The Fed Chairman Jerome Powellsaid Wednesday at his post-central bank meeting press conference that if the central bank sees no progress in inflation, will react.
However, Powell said there will be some progress in reducing inflation soon and that he believes the Fed’s guidance remains credible.
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“It’s unusual to get late-night data during the Fed’s blackout period.”
“We won’t declare victory until we actually see convincing evidence that inflation is coming down“.
“Our policy will be sensitive and flexible.”
“I believe that our goal is to bring inflation down to 2% while the labor market remains firm“.
“What’s becoming clear is that many factors that we don’t control will play a role in that happening.”
“We can’t control supply-side issues.”
“There is a path for us to maintain a strong labor market, but it is not easier.”
Source: Fx Street
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