1. Position on macroeconomics and interest rate
— Jerome Powell emphasized that the Federal Reserve will not adjust the rate solely due to rising oil prices.
— According to him, decisions on monetary policy will be made based on a broad macroeconomic assessment.
— He confirmed that in the absence of inflationary pressure from tariffs this summer, a rate cut is possible.
2. Inflation and price stability
— The Fed Chair noted that the US is close to achieving price stability, but there is still no full compliance with target indicators.
— Overall, the situation with inflation is assessed as positive, however, the regulator maintains a wait-and-see approach.
3. Financial markets and currency policy
— Powell stated that the US government bond market continues to function stably.
— He also expressed confidence that the US dollar will remain a global reserve currency for a long time to come.
4. Balance and cryptocurrencies
— The Fed Chair clearly indicated that the Federal Reserve
does not have the right and does not plan to acquire cryptocurrency on its balance sheet.
— At the same time, the regulator will continue its course of balance sheet reduction as part of the quantitative tightening (QT) policy.
5. Credit conditions
— Powell acknowledged that lending conditions for small businesses in the US have somewhat tightened, but this is perceived as a controlled phenomenon against the backdrop of the current economic situation.
