💥TIQ💥

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⚡️ Summary of the speech by Fed Chairman Jerome Powell 15/05

1️⃣ Interest rates will remain high for a long time:
• Powell warns that the era of near 0% interest rates is over.
• The current high real interest rates reflect the risk of more volatile inflation and more supply shocks in the future.

2️⃣ The economy is undergoing a major transition:
• Many persistent supply shocks are forecasted, posing significant challenges for the economy and the central bank.
• The Fed is forced to keep interest rates high to control risks from inflation.

3️⃣ No mention of early interest rate cuts:
• Even though the CPI in April 2025 dropped significantly, the Fed remains cautious and does not commit to cutting interest rates in the short term.

4️⃣ No specific mention of Trump's tariff policy, but acknowledges that tariffs could slow growth and put pressure on inflation.

5️⃣ In the process of reevaluating the 5-year policy framework:
• Focus on policy communication, balancing employment and inflation, and addressing supply shocks.
• The old policy framework (from 2020) with a flexible average inflation target is considered outdated post-pandemic.

6️⃣ The Fed is reviewing its policy operation.
• Powell is reviewing the policy, with an announcement expected in the coming months.

▶️ In summary, Chairman Powell's point is that there is no intention to lower interest rates due to expected high inflation from tariffs in the future and the new policies are not yet completed and will be announced later 😁

And with this kind of statement, the name Powell will be continuously mentioned by Trump, you know 🤣
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