He Federal Reserve Chairman Jerome Powellexplains the decision to keep the official interest rate unchanged in the range of 5.25-5.5% and answers questions at the press conference after the meeting.
Featured Statements
“Almost everyone on the Committee believes it will be appropriate to reduce rates”
“We are trying to identify a point at which we feel confident about inflation to begin the process of reducing the restrictive level“
“In theory, real rates rise when inflation falls, but policy cannot be mechanically adjusted”
“We don't know where the neutral interest rate is”
“We are really in a risk management mode”
“We are managing the risks of moving too early versus moving too late“
“The timing of the cuts is linked to our confidence”
About Jerome Powell (via Federalreserve.gov)
“Jerome H. Powell first assumed the role of Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was re-elected to the position and sworn in for a second term. four years on May 23, 2022. Powell is also Chairman of the Federal Open Market Committee, the System's main monetary policy body. Mr. Powell has been a member of the Board of Governors since his inauguration on May 25, 2022. May 2012, to fill an unexpired term. He was re-elected as a member of the Council and was sworn in on June 16, 2014, for a term that ends on January 31, 2028.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
