FOMC Chairman Jerome Powell testifies on the Semiannual Monetary Policy Report before the United States House of Representatives Committee on Financial Services.
Featured Statements
“We are aware of the lags in the effects of monetary policy.”
“However, they are very uncertain in terms of timeframes.”
“Slowing the pace of rate hikes this year is one way to better monitor those effects.”
“The data we’ve seen so far suggests that the final level of rates will have to be higher.”
“Although more data still needs to be analysed.”
“I will do my best to get consensus on any changes to banks’ capital requirements.”
Market reaction
The Dollar Index continues to fluctuate in its daily range around 105.50 following these comments.
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.
