FOMC Chairman Jerome Powell testifies before the House Financial Services Committee on “Monetary Policy and the State of the Economy”
Featured Statements
“As the economy normalizes, we expect profit margins to normalize as well.”
“We have an unconditional commitment to fight inflation.”
“The labor market is unsustainably hot.”
“We need a sustained period of maximum employment and for this it is necessary to lower inflation.”
“It is much more difficult to lower inflation without affecting the labor market.”
“The effects of the balance sheet reduction will be marginal compared to the impact of rising interest rates.”
market reaction
The greenback remains relatively resilient against its rivals following these comments and the US dollar index was last up 0.13% on the day at 104.32.
Source: Fx Street
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