Jerome Powell, Chairman of the Federal Reserve System, delivers his comments on the outlook for monetary policy at a news conference following the FOMC’s decision to raise the policy rate by 50 basis points in May.
Featured Statements
“We are rapidly raising rates to a wide range of plausible levels of neutral.”
“We are rapidly raising rates to a wide range of neutrals.”
“There is no bright red line on what is neutral.”
“We will make a judgment about whether we have done enough.”
“We will not hesitate to raise rates further if necessary.”
“If that path involves levels above neutral, we won’t hesitate to go there.”
“If higher rates are required, we will not hesitate.”
“We don’t see strong evidence that the inflationary psychology has changed.”
“Short-term inflation expectations are quite high.”
“We don’t see a spiral of wages and prices.”
“We know we need to quickly move the policy rate to more normal levels and continue if necessary.”
Source: Fx Street
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