Federal Reserve Chair Jerome Powell and other Fed officials have reiterated their stance on maintaining high interest rates to combat inflation. Despite sharp interest rate hikes over the past two years, inflation remains higher than expected, and the Fed believes it will take longer for these measures to bring inflation down. Powell emphasized that it is too early to consider rate cuts and that the current monetary policy is sufficiently restrictive. He noted that the U.S. economy is in good shape, with continued GDP growth and a strong labor market, although there are still labor shortages in many industries. Powell also highlighted the positive impact of immigration on alleviating labor shortages and boosting economic growth. The Fed plans to hold interest rates at the highest level in more than two decades as it awaits evidence that a slowdown in inflation will resume after setbacks this year. Powell remains confident that inflation will reach the 2% target with the current policy.
*POWELL SAYS FED'S RESTRICTIVE POLICY IS WORKING, DOWNPLAYS NEED FOR RATE HIKE https://t.co/enG3zGz9ud
Federal Reserve Chair Jerome Powell said the central bank needs to be patient and let high interest rates continue to work. https://t.co/dZDdHAB7hp via @economics @ctorresreporter
Federal Reserve Chair Jerome Powell says he’s confident inflation will get down to 2% with the current restrictive monetary policy. https://t.co/HdBKbATHtY
What's Powell saying? https://t.co/Or34mG37hV
Bullish …. Powell says inflation has been higher than thought and expects rates to hold steady https://t.co/VMVbIUrPkr
Jerome Powell urges patience on rate cuts after key inflation index higher than expected https://t.co/JJw6BN9ORf https://t.co/twnHPYrLmv
Chair Powell notes there has been a "fairly large influx immigration" that helped cool the labor market. But is also puzzled about housing inflation. https://t.co/eM59GpEZM4
Fed Chair Powell: "I would also point to a fairly large influx of immigration into the country over the past couple of years and those people are joining the labor force. That's boosting growth." https://t.co/NrUClPEm8I
Fed Chair Jerome Powell said it "may take longer than expected" for high interest rates to bring down inflation. He repeated a rate hike is unlikely. https://t.co/oTf83mH7YA
Fed’s Jay Powell hints interest rates will stay high as US inflation lingers https://t.co/YujKLyUraH
Powell Reiterates Fed Likely to Keep Rates Higher for Longer https://t.co/bgGfEHdwvt
"Powell Reiterates Fed Likely to Keep Rates Higher for Longer" via @Bloomberg @Business https://t.co/cuodI5tA0h
Federal Reserve Chair Jerome Powell affirmed the central bank’s plans to hold interest rates at the highest level in more than two decades as it awaits evidence that a slowdown in inflation will resume after setbacks this year https://t.co/ZbAIHFOkzY https://t.co/ZbAIHFOkzY
Fed Chair Jerome Powell Maintains Wait-and-See Posture on Inflation and Rates https://t.co/fQIeU2XKCt
BIDENOMICS: Powell says inflation has been higher than thought and expects rates to hold steady. The Fed Chair had promised Biden a rate cut to give his campaign a boost but the economy is just too weak. https://t.co/QU4ktLL5yF
“I think the overall picture still is policy is working,” Federal Reserve Chair Jerome Powell says about restrictive monetary policy during the annual general meeting of the Foreign Bankers’ Association in Amsterdam. https://t.co/WxjLTFW8Og https://t.co/NMxxHQqpEk
FED'S POWELL: THE US CONTINUING TO BENEFIT FROM STRONG PANDEMIC RESPONSE.
POWELL: IMMIGRATION HAS ALLEVIATED US LABOR SHORTAGES
FED Powell pretty dovish comments following PPI in relation to inflation, still keeping rates higher for longer probably wont cut till there's trouble but they are looking for reasons to cut
POWELL: HOMEOWNERS, BUSINESSES HAVE LOCKED IN LOWER RATES, SO POLICY ISN'T HITTING ECONOMY AS STRONGLY AS OTHERWISE
FED'S POWELL: WE'VE SEEN DEMAND FOR WORKERS COOLING OFF PRETTY SUBSTANTIALLY, YOU ALSO SEE WAGES COMING DOWN. I THINK THAT TELLS YOU THAT POLICY IS PROBABLY RESTRICTIVE.
🇺🇸POWELL: IMMIGRATION IS ALLEVIATING LABOR SHORTAGES THAT WE HAD @elonmusk was right. The Biden administration is letting all them in purposely
POWELL: IMMIGRATION IS ALLEVIATING LABOR SHORTAGES THAT WE HAD
POWELL: NON-CONTROVERSIAL TO SAY US FISCAL POLICY IS ON AN UNSUSTAINABLE PATH
Powell still talking 🗣️ https://t.co/P3knXE9LxV
Fed’s Powell Says the Bank Is in Wait-and-See Mode on Inflation https://t.co/ZyIo9Qg4GR
*POWELL: GDP BENEFITING FROM NEW WORKERS COMING IN
Federal Reserve Chairman Jerome Powell stated that service inflation could potentially see the slowest increase, as policymakers work to manage economic recovery.
FED'S POWELL: I AM CONFIDENT WE WILL GET THERE THOUGH.
FED'S POWELL: THERE ARE LAGS BETWEEN THE DECLINE IN MARKET RATES, AND IT SHOWING UP LONGER THAN WE THOUGH.
🇺🇸 #FED'S POWELL SPEAKS AT EVENT IN AMSTERDAM - BBG *POWELL: LABOR MARKET COMING BACK GRADUALLY INTO BETTER BALANCE *POWELL: STILL EXPERIENCING LABOR SHORTAGE IN MANY INDUSTRIES *POWELL: IMMIGRATION ALSO BOOSTING GROWTH *POWELL: SIGNS OF GRADUAL COOLING, REBALANCING IN LABOR…
FED'S POWELL: WE EXPECT CONTINUED GDP GROWTH 2% OR BETTER || WE EXPECT THE LABOR MARKET TO CONTINUE TO REBALANCE BUT REMAIN STRONG
FED'S POWELL: THE LABOR MARKET IS NOW ABOUT AS TIGHT AS IT WAS BEFORE THE PANDEMIC.
POWELL: OVERALL A GOOD PICTURE LOOKING AT U.S. ECONOMIC DATA SO FAR
FED'S POWELL: THERE'S STILL EXPERIENCING LABOR SHORTAGE IN MANY INDUSTRIES, BUT OVERALL IT IS A GOOD PICTURE LOOKING AT THE US ECONOMIC DATA SO FAR.
🚨 Powell Speaking now $SPY $QQQ
POWELL: HOUSEHOLDS ARE IN GOOD SHAPE FINANCIALLY
"We believe that our monetary policy is sufficiently restrictive.” - Powell
Fed officials claim that more time is needed for restrictive rates to do their job of bringing down #inflation. But current interest rates are not restrictive, they're stimulative. So the longer the #Fed waits to raise interest rates, the higher the inflation rate will rise.
Jay Powell’s colleagues spent the last week backing a stance the central bank chair hammered home at his last press conference: Interest rates will be staying higher for longer. https://t.co/XzZrugB8rH
Fed president says it’s "just too early to think" about cutting as economists ask if U.S. interest rates are high enough to beat inflation. https://t.co/foontOdkIW
The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year. https://t.co/zJ6BoX17g7
Are US interest rates high enough to beat inflation? The Fed will take its time to find out https://t.co/brN344H3Oa
Are U.S. interest rates high enough to beat inflation? The Fed will take its time to find out https://t.co/DM80Xn64FZ