The Federal Reserve has decided to keep interest rates steady, maintaining the target range at 5.25% to 5.50%. Fed Chair Jerome Powell indicated that while the central bank is not in a rush to cut rates, it is open to the possibility later in the year if economic conditions evolve as expected. Powell emphasized the need for greater confidence that inflation is moving sustainably down towards the 2% goal before considering rate reductions, noting that they have six months of good inflation data. He acknowledged that the labor market is nearing normal and that the economy is broadly normalizing, but also noted that inflation, while easing, remains above the desired level. The Fed's stance is one of risk management, carefully monitoring economic indicators, particularly inflation and labor market data, to determine the timing of any future rate cuts. Powell also mentioned that there was no proposal to cut rates at this meeting and that the policy rate is likely at its peak.
Fed Chair Powell: “Let’s be honest. This is a good economy.” https://t.co/RFe9MHdeoy
“We want to see more good data,” Fed Chair Powell says. “It’s not that we’re looking for better data.” https://t.co/Oizw13yry3 https://t.co/WbnD4nkQPj
“We want to see more good data,” Fed Chair Powell says. “It’s not that we’re looking for better data, we’re looking for a continuation of the good data we’ve been seeing.” https://t.co/Oizw13yry3 https://t.co/ix6tOX1Gdq
“We believe that our policy rate is likely at its peak for this tightening cycle and that if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Fed Chair Powell says. https://t.co/Oizw13yry3 https://t.co/41DifTRpWt
"We want to see more good data," Fed Chair Powell says on inflation. "It's not that we're looking for better data, we're looking [for] a continuation of the good data that we're seeing." https://t.co/yTANeyIznZ
Fed says more 'confidence' needed on inflation front before rate cuts can start https://t.co/GYh0y1wEbt
Fed Chair Powell: "This is a good situation. Let's be honest, this is a good economy." #FOMC https://t.co/MNjObdCSBs
Federal Reserve signals that interest rate cuts aren't imminent and leaves them unchanged for now https://t.co/EzSdwVgn6z
“We believe that our policy rate is likely at its peak for this tightening cycle and that if the economy evolves broadly, as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Fed Chair Powell says. https://t.co/D8JiNTTgBm
🇺🇸FEDERAL RESERVE: THE U.S ECONOMY IS GREAT | CARRY ON Jerome Powell: "We're looking for greater confidence that inflation is moving sustainably down to 2%...we want to get greater confidence. A good example is inflation...Is six months of good inflation data...sending us a… https://t.co/v22vDvnWWG https://t.co/d7dysq0IRr
Summary of Fed Chair Powell today: 1) No rate cut in March 2) Cuts likely in 2024, but Fed wants lot more data first 3) Not a "soft landing" yet 4) "Let’s be honest: this is a good economy." -Powell https://t.co/Uus5NB8bYB https://t.co/32irCG1suQ
Federal Reserve signals that interest rate cuts aren’t imminent and leaves them unchanged for now https://t.co/k8uo4RQWBD
Fed's Powell: Not So Worried That Growth Is Too Strong And Inflation Could Come Back
"We are looking for greater confidence that inflation is moving sustainably down to 2%,” Federal Reserve Chair Jerome Powell says https://t.co/bsI1RvR2iq https://t.co/u9GHcVNZGf
❖ POWELL: WE WON'T KEEP IT A SECRET WHEN WE HAVE CONFIDENCE ON INFLATION
🔴 FED'S POWELL: I AM NOT IN A POSITION TO PUT A NUMBER ON HOW MANY MONTHS OF LOW INFLATION ARE NEEDED TO HAVE CONFIDENCE. WE WON'T KEEP IT A SECRET WHEN WE HAVE CONFIDENCE ON INFLATION.
WATCH: Federal Reserve signals that interest rate cuts aren’t imminent and leaves them unchanged for now. https://t.co/oaHN0fJ1tm
🔴 FED'S POWELL: THERE ARE RISKS THAT WOULD MAKE US GO SLOWER OR FASTER ON RATE CUTS.
Fed's Powell: All Depends On How Economy Evolves
Powell: We are not looking for inflation to tap 2% twice.. we want to anchor inflation at 2%
🔴 FED'S POWELL: WE ARE NOT LOOKING FOR INFLATION TO TAP 2% ONCE, WE ARE LOOKING FOR IT TO SETTLE OUT AT 2%.
Fed's Powell: We Are Not Looking For Inflation To Tap 2% Once; We Are Looking For It To Settle Out At 2%
🔴 FED'S POWELL: 12-MONTH INFLATION IS ABOVE TARGET, BUT SEEM TO BE GETTING ON TRACK TO IT.
🔴 FED'S POWELL: WE'VE HAD 6 MONTHS OF GOOD INFLATION DATA AND THE EXPECTATION IS OF MORE TO COME.
Fed's Powell: We Do Expect Economic Growth Will Moderate
FOMC Presser: Question: If you do not want to say soft landing achieved, would you say hard landing avoided? Powell: I would say this, growth is solid to strong, labor market indicates strength, and we've seen inflation come down. This is a good economy.
"This is a good economy" -- Powell
POWELL: ALMOST EVERYONE ON THE COMMITTEE BELIEVES IT WILL BE APPROPRIATE TO REDUCE RATES
Fed's Powell: More Concerned Inflation Will Stabilize At Elevated Level - We Are Not Rushing
POWELL: GREATER RISK IS INFLATION WOULD STABILIZE ABOVE 2%
"If inflation were to surprise by moving back up, we would have to respond and that would be a surprise at this point, but that is why we are keeping our options open here, and why we are not rushing." - Fed's Powell
Powell: "I think the labor market is in many measures at or nearing normal, but not totally back to normal."
Powell: "The labor market by many measures is at or nearing normal, but not totally back to normal."
🔴 FED'S POWELL: THE WAGE SETTING WILL PROBABLY TAKE A COUPLE OF YEARS TO GET ALL THE WAY BACK.
*POWELL: LABOR MARKET BY MANY MEASURES IS AT OR NEARING NORMAL
🔴 FED'S POWELL: A LOT OF THE ECONOMIC GROWTH WE ARE SEEING IS DUE TO POST-PANDEMIC HEALING, WHEN THAT PETERS OUT, OUR RESTRICTIVE RATE WILL SHOW UP MORE SHARPLY.
Fed's Powell: A Lot Of The Growth Is From Labour Market And Supply Chain Healing - When That Peters Out, Our Restrictive Rate Will Show Up More Sharply
🔴 FED'S POWELL: THE SUPPLY SIDE HAS BEEN RECOVERING, BUT THAT WON'T GO ON FOREVER.
🔴 FED'S POWELL: SUPPLY CHAINS NOT YET BACK FULLY TO WHERE THEY WERE.
🔴 FED'S POWELL: I THINK LOWER RENT COSTS ARE COMING, AND WILL FEED THROUGH. LOWER RENTAL INFLATION IS IN EVERYONE'S FORECAST.
Federal Reserve holds interest rates steady as market focuses on timing of 2024 cuts via @FT https://t.co/VA1U4FOIQZ
🔴 FED'S POWELL: THE ECONOMY IS BROADLY NORMALIZING.
Fed's Powell: Economy Is Broadly Normalizing
Powell: Some people thought we were on a rate cut path...we are not actively considering this option
❖ POWELL: THERE WAS NO PROPOSAL TO CUT RATES AT THIS MEETING
Fed Chair Powell's key line today = "We're wanting to see more data" He does admit that job losses would trigger rate cuts. "If we saw an unexpected weakening in the labor market, that would certainly weigh on cutting sooner," Powell says https://t.co/egS2swavVL
Fed's Powell: SEP Is Good Evidence Of Where FOMC Is At In Terms Of Forecasts - We Weren't Actively Considering A Rate Cut - There Is A Wide Disparity Of View On The Committee
FED'S JEROME POWELL: THERE WAS NO PROPOSAL TO CUT RATES TODAY
*POWELL: THERE WAS NO PROPOSAL TO CUT RATES AT THIS MEETING
Fed's Powell: There Was No Proposal To Cut Rates Today
🔴 FED'S POWELL: IN THE BASE CASE, WHERE THE ECONOMY IS HEALTHY WITH A STRONG LABOR MARKET, WE CAN BE CAREFUL AS WE THINK ABOUT RATE CUT TIMING.
Powell: If we saw an unexpected weakening in the labor market, that would certainly call for cutting sooner. If inflation was stickier or higher than anticipated, that would argue for moving later.
🔴 FED'S POWELL: WE ARE NOT LOOKING FOR A SLIDE IN EMPLOYMENT, BUT WOULD CUT RATES IF WE SAW A WEAKENING.
Fed's Powell: We Are Not Looking For A Slide In Employment, But Would Cut Rates If We Saw A Weakening
Fed declines to cut rates as inflation, consumer confidence improve https://t.co/fxvRlBFMuw https://t.co/TM7Mcvh5QD
The Fed holds line on rates as Wall Street waits for cuts https://t.co/YnUrn2xDUF
❖ Powell: We're In `Risk Management Mode' To Prevent Moving Too Soon Or Too Late
🔴 FED'S POWELL: THE TIMING OF CUTS IS LINKED TO OUR CONFIDENCE.
Fed's Powell: We Are Really In A Risk Management Mode - We Don't Know Where Neutral Rate Of Interest Is
🔴 FED'S POWELL: WE ARE REALLY IN A RISK MANAGEMENT MODE.
Fed's Powell: We Are Trying To Identify A Place We Are Confident On Inflation To Begin Process Of Dialling Back Restrictive Level
❖ POWELL: ALMOST EVERYONE ON THE COMMITTEE BELIEVES IT WILL BE APPROPRIATE TO REDUCE RATES
Fed's Powell: We had very strong growth last year. We don't think we necessarily need to see weaker growth for inflation to come down.
"*Almost* every participant on the committee does believe that it will be appropriate to reduce rates." Powell
Fed's Powell: Almost Everyone On The Committee Believes It Will Be Appropriate To Reduce Rates
POWELL: WE ARE NOT LOOKING FOR A WEAKER LABOR MARKET The Fed is extremely keen on realizing a soft landing, and it will cut rates whenever deemed necessary to 'protect' that soft landing.
good to see Powell in the Q&A saying Fed is no longer focused on economic growth or strong labor market as potentially being inflationary any more. https://t.co/a261lEB3G9
FED'S JEROME POWELL: WE HAVE SIX MONTHS OF GOOD INFLATION DATA. ON INFLATION DATA, NEED TO MAKE SURE WHAT WE ARE SEEING IS TRUE SIGNAL. FED'S POWELL: IT SEEMS LIKELY WE WILL ACHIEVE CONFIDENCE ON INFLATION.
Fed Chair Powell wants to see "greater confidence" inflation will hit 2% before cutting rates. What does that mean? "We want to see MORE GOOD DATA," Powell says. "WE NEED TO SEE MORE EVIDENCE" to confirm We've 6 months of good inflation data. "Is it sending us a true signal… https://t.co/gl74oh63yR
Powell: We are not looking for a weaker labor market ARFKM this is exactly what they have been telling us
Powell thinks we are on the right path and WILL achieve confidence after 6 months of good inflation data, but wants CONFIRMATION Need service sector to contribute more to decelerating inflation, not just goods
Powell: "It’s not that we’re looking for better data... We’re looking for a continuation of the good data we’ve been seeing"
🔴 FED'S POWELL: WE HAVE SIX MONTHS OF GOOD INFLATION DATA. ON INFLATION DATA, NEED TO MAKE SURE WHAT WE ARE SEEING IS TRUE SIGNAL.
Powell tells @jeannasmialek that the Fed has confidence, but that it wants greater confidence. And that it doesn't need to see *better* data. Just more of it.
Fed's Powell: We Have Confidence, Looking For Greater Confidence
*POWELL: LOOKING FOR GREATER CONFIDENCE INFLATION IS MOVING DOWN
Fed’s Powell: Prepared To Maintain Current Policy Rate For Longer If Needed
POWELL: WE NEED GREATER CONFIDENCE BEFORE WE REDUCE POLICY RATE
Fed Chair Powell is trying to keep his options open on rate cuts in 2024. "We believe the tour policy rate is likely at its peak for this tightening cycle" "It will likely be appropriate to begin dialing back policy restraint at some point this year." https://t.co/7aM1rPJlPc
#BREAKING: Powell says we are likely at peak for cycle Will be appropriate to dial back rates at some point this year
Jerome Powell just said the 🇺🇸 Fed's policy rate is likely at its peak Jerome Powell just said it will be likely appropriate for the 🇺🇸 Fed to begin cutting its policy rate at some point during the year
Fed’s Powell: We Need Greater Confidence Before We Reduce Policy Rate
🔴 FED'S POWELL: I AM PREPARED TO MAINTAIN THE CURRENT POLICY RATE FOR LONGER IF NEEDED.
$XBI Powell just said we are very likely at 'peak tightened' policy.
Fed’s Powell: Highly Attentive To Risks Inflation Poses To Both Sides Of Mandate - Our Restrictive Stance Is Putting Downward Pressure On Economic Activity And Inflation - If Economy Evolves As Expected, We Will Dial Back Policy Rate This Year
❖ FED'S POWELL: ECONOMIC OUTLOOK THOUGH IS UNCERTAIN ❖ FED'S POWELL: ONGOING PROGRESS ON INFLATION 'NOT ASSURED'
❖ POWELL: IF ECONOMY EVOLVES AS EXPECTED, WE WILL DIAL BACK POLICY RATE THIS YEAR
Powell: "We believe that our policy rate is likely at its peak for this hiking cycle"
🔴 FED'S POWELL: IT WILL LIKELY BE APPROPRIATE TO BEGIN REDUCING RATES SOMETIME THIS YEAR.
🇺🇸#Fed Chair #Powell's press conference: ▶️"Risk to achieving our employment & inflation goals are move into better balance" ▶️"Lower inflation readings in H2 2023 are welcome. But will need to see continuing evidence to build confidence that inflation is moving down sustainably" https://t.co/KkTuVlUgXJ
POWELL: INFLATION REMAINS ABOVE GOAL
Fed’s Powell: Inflation Has Eased Notably - Inflation Remains Above Goal - Lower Inflation Readings Are Welcome - But We Need To See Continuing Evidence To Have Confidence Returning To Target
Fed’s Powell: Economy Has Made Good Progress - Inflation Has Eased - Path Forward Is Uncertain - Fully Committed To Returning Inflation To 2% - Over Past Two Years Monetary Policy Significantly Tightened - Policy Rate Well Into Restrictive Territory
*POWELL: INFLATION HAS EASED NOTABLY BUT REMAINS ABOVE 2% GOAL
🔴 FED'S POWELL: THE LABOR MARKET REMAINS TIGHT.
#FED'S POWELL: PATH FORWARD IS UNCERTAIN
*POWELL: ECONOMIC ACTIVITY HAS BEEN EXPANDING AT SOLID PACE
Fed pushes back on spring cuts but holds rates steady at 5.25% to 5.5% https://t.co/cRh12mK5MR
Powell: "Inflation is still too high"
Federal Reserve holds interest rates steady, sets the stage for cuts. What that means for your money https://t.co/zHgY9lUTpf
Fed holds interest rates steady, hints March rate cut is unlikely despite easing inflation https://t.co/kg8dsJ6jt0 via @usatoday
Federal Reserve holds interest rates steady as market focuses on timing of 2024 cuts https://t.co/ywfYiLyEJ1
Fed says it needs more confidence inflation is slowing before cutting rates https://t.co/N93yLMmj6v
Fed keeps rates unchanged, signals no rush to cut rates https://t.co/WtnZPheRZX via @marketwatch
No Cut Yet: Fed Holds Interest Rates At 23-Year High https://t.co/0wOHbgw0Er https://t.co/yBX4xibBTT
Fed Leaves Rates Steady and Opens Door Wider to Cuts https://t.co/aGfe3GSPfR
FOMC Rates unchanged as expected Target range stands at 5.25% - 5.50% https://t.co/Q9YaDLQ9Jl
BREAKING: Fed maintains rates at 5.5% https://t.co/P0dCG2ot3o
Jerome Powell and the Fed just left rates UNCHANGED at between 5.25%-5.50% https://t.co/h9aFLKTWYI
FOMC Rates Unchanged; Target Range Stands At 5.25% - 5.50% #FOMC $USDJPY $DXY
FED LEAVES RATES UNCHANGED AT 5.25-5.5%
Fed to Hold Interest Rates Steady But Start Considering Cuts - BBG https://t.co/IbOHQpNThK