The chairman of the Fed, Jerome Powellsaid in the opening speech of his usual press conference after the entity’s meeting that they are moving expeditiously to raise interest rates and determined to restore price stability.
Featured Statements
The US economy has been through a lot and is resilient.
It is essential to reduce inflation. The current picture is that the labor market is very tight and inflation is too high.
The Fed thinks continuous rises in interest rates are appropriate.
We are in the process of significantly reducing the size of the balance sheet.
The activity in the housing sector seems to be softening. The recent tightening of financial conditions should moderate demand.
The labor market has remained very tight and wage growth has been high.
Labor supply has remained subdued and labor demand strong. The Fed hopes that supply and demand conditions in the labor market will become more balanced and wage increases will then moderate.
Source: Fx Street
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