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.
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“We are not actively looking at a 75bp hike.”
“The broad feeling that additional 50bp hikes should be on the table for the next two meetings.”
“The test is economic and financial conditions as they evolve.”
“Expectations are that we will start to see inflation flatten out.”
“Some show an underlying PCE spike.”
“But we don’t just want some evidence on inflation, we want progress.”
“It’s hard to guide forward, leaving room to look at the data.”
“I want to see evidence that inflation is lower.”
Source: Fx Street
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