News list for " Powell said"
Federal Reserve Chairperson Jerome Powell has said that bitcoin is being used as a speculative asset; its competitor is gold, not the dollar.
Powell said the Fed will gradually move towards a more neutral interest rate over time, and although downside risks are lower than expected, the Fed can remain cautious in its search for a neutral rate. U.S. inflation is not yet on target, but it is still making progress. U.S. unemployment remains at very low levels. The September rate cut is a strong signal to support the labor market.
Federal Reserve Chairperson Jerome Powell said that regulated banks are very cautious about generative artificial intelligence. The impact of artificial intelligence (AI) technology may become apparent later.
Federal Reserve Chairperson Jerome Powell said the Fed would do better on inflation if it remained independent. The Fed needs to maintain a high degree of transparency, which requires the Fed to remain independent. There has been a strong response to inflation, which has helped anchor inflation expectations. Mr. Powell said the Fed does not consider the interests of any political party when making decisions. Politics could be a distraction.
Fed Chairperson Jerome Powell said it was too early to pass judgment on the impact of Trump's policies and that it was important to reserve judgment on the impact of new policies and wait and see how things actually develop. In the case of fiscal policy, passing a bill takes a long time. The Fed has time to assess the net effect of policy changes before reacting to them. Changes in government policy usually do not have an immediate impact on the achievement of the Fed's goals.
Federal Reserve Chairperson Jerome Powell said PCE is expected to rise 2.3% in October from a year earlier (2.1% in September), and core PCE is expected to rise 2.8% (2.7% in September). The US economy has performed quite well recently, and the labor market has cooled to the point where it no longer poses significant inflationary pressures.
Fed chairperson Jerome Powell said the economy was not signaling that the central bank needed to rush to lower interest rates. Policy will gradually adjust to neutral levels, but the path of policy is not predetermined. Inflation is expected to continue falling towards the 2 per cent target, although this process may experience a "fluctuating" path.
Federal Reserve Chairperson Jerome Powell has said he will not step down as chairperson of the Federal Reserve even if Trump asks.
Federal Reserve Chairperson Jerome Powell said that as interest rates approach neutral, it may be necessary to slow the pace of rate cuts.
Fed Chairperson Jerome Powell said the election would have no impact on policy in the short term. The timing and substance of the change in government policy is unclear. So it is unclear how policy will affect the Fed's goals.
Federal Reserve Chairperson Jerome Powell said the central bank could adjust policy limits more slowly or more quickly and would continue to make decisions on a meeting-by-meeting basis. If the economy remains strong and inflation does not fall back to 2 percent, policy can be adjusted more slowly.
Federal Reserve Chairperson Jerome Powell said the overall economy is performing strongly, high inflation has eased significantly, and the labor market remains solid.
The Federal Reserve announced an over-the-top 50 basis point rate cut early Thursday morning, which Powell said was intended to signal policymakers' commitment to maintaining low unemployment after inflation eased. Bank of America was the only large brokerage to raise its forecast for the Fed to cut rates for the rest of 2024 after the Fed slashed rates. The Wall Street brokerage said it expected the Fed to cut rates by 75 basis points in the fourth quarter, after it predicted the Fed would cut ...
Federal Reserve Chairperson Jerome Powell said that the Federal Reserve has not declared a victory on inflation, but the situation is encouraging; he wants to see inflation near 2% for some time; housing inflation is a bit upsetting; housing inflation is falling more slowly than expected; and other elements of inflation are already doing well.
Mr. Powell said the labor market is normalizing, wage growth is slowing, job openings remain healthy and the unemployment rate is roughly in line with what policymakers believe is consistent with the central bank's 2 percent inflation target, said Evans, a former Chicago Fed president. If that were all, that would be a good thing. But history is not rosy. That doesn't seem to be the case at the moment, but it may only take one or two weak jobs reports for aggressive rate cuts to combat rising un...
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