Fed Chairman Jerome Powell said at his press conference after the meeting of the FOMC on Wednesday that the Fed will raise interest rates as fast as possible and move them beyond neutral if necessary. We will not allow high inflation to take hold, he said.
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“Nothing in our framework has made us wait any longer than we should.”
“You can’t blame the mark, it was a sudden burst of inflation.”
“The labor market has a lot of momentum and the underlying economy is strong.”
“I was hoping the bottlenecks would get better, but they haven’t.”
“The goal is to restore price stability and maintain a strong labor market.”
“Price stability is an essential goal.”
“Price stability is a precondition for a strong labor market.”
“The economy can handle tighter monetary policy.”
“We are fully committed to reducing inflation.”
“High inflation affects everyone.”
“We anticipate that inflation will come down again.”
“I’m hoping demand slows enough to better match supply.”
“Our plan is to reduce inflation over time.”
“We are firmly committed to not allowing high inflation to take hold.”
“The way we do it is by raising interest rates and reducing the balance sheet.”
“The good news is that the economy and labor market are strong enough, they can handle interest rate increases.”
“We think our policy is the right one.”
“Sanctions are a matter for elected officials.”
“Increasing wages is a great thing.”
“Wage increases are well above what is consistent with 2% inflation over time.”
“We don’t see an entrenched spiral of wages and prices.”
“I don’t see salary increases that are too high taking root.”
“There is a mismatch of supply and demand in the labor market.”
“We need to use our tools to guide inflation back to 2%.”
“We think the labor market can handle tighter monetary policy.”
“Wages are rising faster than is consistent with 2% inflation.”
“Current wage growth is not sustainable.”
“We hope that people will return to the labor market.”
“We expect people to return to the job market as Covid-19 becomes less of a factor.”
“In retrospect, it would have been appropriate to move sooner, if we knew then what we know now.”
“The committee is very focused on the use of tools.”
“Nobody wants to have to put in a restrictive policy to bring down inflation.”
Source: Fx Street
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