Fed Chairman Jerome Powell He said in his press conference after the Fed meeting that the worst mistake the Fed could make would be to fail to lower inflation, Reuters reported. “We have to restore price stability,” he reiterated. Powell, adding that the Fed wants to get the job done.
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“We are not seeing a price-wage spiral.”
“We think the public thinks we’re going to go back down to 2%.”
“It is key that we maintain confidence in the Fed’s ability to bring down inflation.”
“It’s clear that inflation is incredibly unpopular and painful.”
“It will take some time to bring inflation back down.”
“We have to make sure that the public has confidence that we have the tools, and that they work, to bring inflation down.”
“I think our projections meet the test for a soft landing.”
“But events have increased the degree of difficulty.”
“There is a much greater chance that it now depends on factors beyond our control.”
“We don’t know if we can.”
“Commodity price fluctuations could rob us of a soft landing.”
“If we see the data going in another direction, we will adjust the policy.”
“This is a very uncertain environment.”
“We are determined and determined, but we are flexible.”
“You couldn’t get this kind of inflation without a change on the supply side.”
“As for QT, I have no reason to think it will cause liquidity problems.”
“We are waiting to see to what extent the rate hike will affect residential investment, the price of housing.”
“House prices could continue to rise for a while due to supply constraints.”
“Housing prices may continue to rise for a while even if rates rise.”
Source: Fx Street
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