📌Jerome Powell (head of the #Fed):

Today's statements:

✔️The economic environment has changed significantly since 2020.

✔️Long-term real rates are noticeably higher, inflation expectations are stable.

✔️Inflation has decreased from 7.2% to 2.2%, but the fight against it remains a key task.

✔️The decline in inflation has occurred without a sharp rise in unemployment – a rare historical case.

❗️The risks of new and more frequent supply shocks in the economy have increased.

❗️In the near future, a period of low rates is no longer the baseline scenario.

✔️It is important to maintain the anchoring of inflation expectations to the 2% target.

✔️The review of the Fed's strategy for 2025 will be completed in the coming months.

✔️There are plans to revise the wording for employment "shortfalls."

✔️Fed communication needs to become clearer, especially in conditions of economic uncertainty.

❗️It is necessary to better convey the scale of uncertainty in forecasts to the public and markets.

✔️The reform of the Fed's strategic documents will be adapted to new economic conditions.

✔️Supporting transparency and trust in the regulator's actions remains a priority.