โ๐ Summary of Powell's Statements:
๐น U.S. monetary policy is not on a predetermined path
๐ Core inflation is at 2.9% in August
๐ฅ Job slowdown is due to a decline in the workforce
๐ฆ The Fed is committed to independence and there is widespread rejection of a 50 basis point rate cut
๐ผ Tariffs may pressure the labor market and drive prices up
๐ Powell: "It cannot be said that the labor market is still strong"
โ๏ธ Stance: A flexible approach between controlling inflation and maintaining job stability.
โ๐ด Chair of the U.S. Federal Reserve, Jerome Powell:
๐ Inflation has increased recently and remains somewhat high
๐ The pace of job growth has slowed and employment risks have increased
๐ The slowdown in GDP growth largely reflects a slowdown in consumer spending
๐ The unemployment rate has not changed much over the past year
๐ Inflation has decreased from its peak in mid-2022 but has risen somewhat to a level higher than before
