Economy is solid, still need 'greater confidence' on inflation progress: Powell
==========
Federal Reserve Chair Jerome Powell stated that the U.S. economy is solid, with economic activity expanding at a solid pace and consumer spending remaining solid. The labor market has become more balanced, and Powell expects the labor market strength to continue. However, the Fed has not yet received the greater confidence it needs that inflation is sustainably heading toward the Fed's 2% inflation goal. Powell mentioned that the FOMC is coming to think that interest rates won't return to pre-COVID levels. The central bank policymakers are assuming 'good but not great' inflation numbers and are taking a conservative approach in their forecasting.
#FederalReserve #JeromePowell #UsEconomy #Inflation #InterestRates
https://seekingalpha.com/news/4115327-economic-is-solid-but-still-need-greater-confidence-on-inflation-progress-powell-press-conference
Seeking Alpha /
npub1qpf…damf
2024-06-12 21:30:35
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-06-12 21:30:35Event JSON
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"content": "Economy is solid, still need 'greater confidence' on inflation progress: Powell\n==========\n\nFederal Reserve Chair Jerome Powell stated that the U.S. economy is solid, with economic activity expanding at a solid pace and consumer spending remaining solid. The labor market has become more balanced, and Powell expects the labor market strength to continue. However, the Fed has not yet received the greater confidence it needs that inflation is sustainably heading toward the Fed's 2% inflation goal. Powell mentioned that the FOMC is coming to think that interest rates won't return to pre-COVID levels. The central bank policymakers are assuming 'good but not great' inflation numbers and are taking a conservative approach in their forecasting.\n\n#FederalReserve #JeromePowell #UsEconomy #Inflation #InterestRates\n\nhttps://seekingalpha.com/news/4115327-economic-is-solid-but-still-need-greater-confidence-on-inflation-progress-powell-press-conference",
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