At 12:00 AM Beijing time on May 8th, Federal Reserve Chairman Powell spoke at a press conference following the interest rate decision, with the following key points:
Interest Rate Policy: The Federal Reserve will maintain the federal funds rate range at 4.25%-4.5%, unchanged for the third consecutive meeting. Powell stated that the Fed is not in a hurry to act, and there may be situations in the future that are suitable for either rate cuts or holding steady, with a currently high threshold for rate cuts.
Economic Outlook: Powell believes that the U.S. economy is resilient and in good condition, but uncertainty about the economic outlook has further increased, with the risks of high unemployment and high inflation both rising, which may necessitate a trade-off between the two. He expects the U.S. first-quarter GDP data to be revised upward.
Impact of Trade Policy: The tariff policy of the Trump administration has had a much greater impact than expected. If tariffs remain at current levels, it could lead to slower economic growth and rising long-term inflation, pushing the Fed's timeline for achieving its goals at least to next year. However, ongoing trade negotiations in the U.S. may 'significantly change the situation.'
Independence of the Federal Reserve: In response to Trump’s frequent pressure for the Fed to cut rates, Powell stated that this has no impact on the Fed’s ability to fulfill its duties, and he has never proactively requested to meet with any president, nor will he do so in the future.
#美联储FOMC会议
Interest Rate Policy: The Federal Reserve will maintain the federal funds rate range at 4.25%-4.5%, unchanged for the third consecutive meeting. Powell stated that the Fed is not in a hurry to act, and there may be situations in the future that are suitable for either rate cuts or holding steady, with a currently high threshold for rate cuts.
Economic Outlook: Powell believes that the U.S. economy is resilient and in good condition, but uncertainty about the economic outlook has further increased, with the risks of high unemployment and high inflation both rising, which may necessitate a trade-off between the two. He expects the U.S. first-quarter GDP data to be revised upward.
Impact of Trade Policy: The tariff policy of the Trump administration has had a much greater impact than expected. If tariffs remain at current levels, it could lead to slower economic growth and rising long-term inflation, pushing the Fed's timeline for achieving its goals at least to next year. However, ongoing trade negotiations in the U.S. may 'significantly change the situation.'
Independence of the Federal Reserve: In response to Trump’s frequent pressure for the Fed to cut rates, Powell stated that this has no impact on the Fed’s ability to fulfill its duties, and he has never proactively requested to meet with any president, nor will he do so in the future.
#美联储FOMC会议
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