#PowellRemarks
Jerome Powell Speech
Jerome Powell, the Chair of the U.S. Federal Reserve, delivered an important speech yesterday, in which he provided clarifications regarding monetary policy and inflation. Here are more details about the speech and its impacts:
*Highlights of Powell's Statements:*
- *Inflation*: Powell affirmed that the Fed is working to reduce inflation to its targeted level of 2%. He noted that inflation is still gradually declining as a result of recovery from the major economic shocks that occurred in 2021 and 2022.
- *Interest Rate*: The key interest rate was reduced by 25 basis points to a range of 4.25%-4.5%. This decision reflects a monetary policy aimed at achieving economic stability while continuing to face inflation challenges.
- *U.S. Economy*: Powell indicated that the U.S. economy is performing very well, and there are no reasons to believe that an economic recession is more likely than usual.
*Impact of Powell's Speech on Markets:*