🗣 Jerome Powell’s key messages from the FOMC press conference:
➖ Inflation remains above target levels.
➖ The Fed is committed to its dual mandate.
➖ Data shows signs of slowing economic growth.
➖ Current policy allows the Fed to react quickly to changes.
➖ Tariffs have increased inflationary pressure on some goods, but the overall effect is unclear.
➖ No decisions have been made regarding the September meeting.
➖ A key indicator to watch is the unemployment rate.
➖ Tariffs are already affecting prices in some consumer categories, and this process will be monitored further.
➖ The impact of tariffs is expected to show more strongly in upcoming inflation data.
➖ Traders no longer fully expect a rate cut in October.
➖ What we are witnessing now is just the beginning of tariff-driven inflation.
➖ Our next policy moves will likely be closer to neutral.
➖ Two important reports on inflation and employment will be released before the next meeting and will guide our decisions.