Mirza1331
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#PowellRemarks
Federal Reserve Chair Jerome Powell recently delivered remarks on the economic outlook, highlighting progress toward stabilizing inflation and maintaining a strong labor market. Here are the key points
- Current Economic Situation: Powell noted that the economy continues to grow at a solid pace, with inflation declining significantly since its peak in 2022. The labor market has cooled down, with the unemployment rate rising to 4.3% from 3.4% in early 2023.
- Monetary Policy: Powell emphasized that the Federal Open Market Committee's primary focus has been on bringing down inflation, which has shown progress toward the 2% target. The Fed has maintained a restrictive monetary policy stance since July 2023.
- Interest Rates: Powell indicated that the direction of policy adjustment is clear, with the timing and pace of rate cuts depending on incoming data and the balance of risks. The current policy rate provides ample room to respond to potential risks, including unwelcome further weakening in labor market conditions.
Federal Reserve Chair Jerome Powell recently delivered remarks on the economic outlook, highlighting progress toward stabilizing inflation and maintaining a strong labor market. Here are the key points
- Current Economic Situation: Powell noted that the economy continues to grow at a solid pace, with inflation declining significantly since its peak in 2022. The labor market has cooled down, with the unemployment rate rising to 4.3% from 3.4% in early 2023.
- Monetary Policy: Powell emphasized that the Federal Open Market Committee's primary focus has been on bringing down inflation, which has shown progress toward the 2% target. The Fed has maintained a restrictive monetary policy stance since July 2023.
- Interest Rates: Powell indicated that the direction of policy adjustment is clear, with the timing and pace of rate cuts depending on incoming data and the balance of risks. The current policy rate provides ample room to respond to potential risks, including unwelcome further weakening in labor market conditions.
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