Federal Reserve Chairman Jerome Powell holds a press conference to explain why they have decided to keep the official interest rate, the federal funds rate, unchanged in the 5.25-5.5% range and answers questions .
“‘Dot plot is a snapshot in time of appropriate policy in light of the personal views of policymakers.”
“The effectiveness of the dot plot declines during the period between meetings.”
“We try to be transparent in our thinking.”
“As we get closer to the next meeting, we’ll talk about how we’re analyzing the data.”
“We are seeing high potential growth.”
“We’re going to look at the full range of economic data, including financial conditions.”
“We’ve come a long way with this rate hike cycle.”
“We are near the end of the cycle.”
“We are not considering changing the pace of balance sheet reduction.”
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
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