Federal Reserve Chair Jerome Powell, in a series of statements, indicated that the Fed believes its policy rate is at or near its peak and it is not likely to hike further. Powell also mentioned that the Fed is pleased with the progress on inflation but emphasized that inflation is still too high. He expressed uncertainty about the path forward and stated that the full effects of tightening are likely not yet felt. Additionally, Powell noted that the Fed is considering when it will be appropriate to cut rates and is prepared to tighten policy further if necessary.
B of A: “.. While we did not expect the Fed to move to an outright easing bias, we did expect it to move to a more balanced reaction function and, in the event, we think it did just that. .. We maintain our outlook for a cutting cycle that begins in June of 2024 ..” #FOMC https://t.co/QleBKtZ7Nw
question: Will the Federal reserve cut rates in 2024? GROK https://t.co/kB4Vax6pFR
“There’s little basis for thinking that the economy is in a recession now,” Fed Chair Powell says. “There’s always a probability that there will be a recession in the next year and it’s a meaningful probability no matter what the economy’s doing.” https://t.co/PfMxma3vHN
BREAKING: 🇺🇸 US Fed Chair Powell says 'we are pleased with the progress on inflation'
BREAKING: 🇺🇸 US Fed Chair Powell says 'it is not likely we will hike further'
#FED'S POWELL: NOT LIKELY WE WILL HIKE FURTHER
JUST IN: 🇺🇸 Fed Chair Powell says "it is not likely we will hike further." https://t.co/FXIiKgG0yf
⚠️BREAKING: *FED'S POWELL: WE BELIEVE OUR POLICY RATE IS AT OR NEAR ITS PEAK https://t.co/mNZnj2yqli
🔴 FED'S POWELL: WE'VE SEEN REASONABLE PROGRESS IN NON-HOUSING SERVICES INFLATION.
🔴 FED'S POWELL: WE HAVEN'T WORKED OUT IF WE WILL FOLLOW A THRESHOLD-BASED PATH FOR CUTTING RATES.
⚠️BREAKING: *FED'S POWELL: NOT LIKELY WE WILL HIKE FURTHER https://t.co/CHRSjEb6qv
JUST IN: 🇺🇸 FED Chair Jerome Powell says "we are pleased with the progress on inflation."
⚠️BREAKING: *FED'S POWELL: POLICYMAKERS ARE THINKING WE HAVE DONE ENOUGH *FED'S POWELL: WE THINK WE HAVE DONE ENOUGH ON RATES https://t.co/4xuFVsxYRN
🔴 FED'S POWELL: ON THE LABOR MARKET, WAGES STILL RUNNING BIT ABOVE WHAT IS CONSISTENT WITH 2% INFLATION.
🔴 FED'S POWELL: ABOVE-TREND GROWTH COULD ULTIMATELY MEAN THAT WE NEED TO HIKE AGAIN.
🔴 FED'S POWELL: IF WE HAVE STRONGER GROWTH, THAT WILL BE GOOD, BUT WILL MEAN IT TAKES LONGER TO GET INFLATION BACK DOWN.
Powell on inflation: I welcome the progress we are making...but we need to see more...its our job to restore price stability along with maximum employment
🔴 FED'S POWELL: IT'S REALLY GOOD TO SEE PROGRESS WE ARE MAKING ON INFLATION, WE'RE STILL WELL ABOVE 3% ON CORE PCE THOUGH.
🔴 FED'S POWELL: POLICYMAKERS ARE THINKING WE HAVE DONE ENOUGH.
⚠️BREAKING: *FED'S POWELL: IT IS NOT LIKELY WE WILL HIKE FURTHER *POWELL: POLICYMAKERS ARE THINKING AND TALKING ABOUT WHEN IT WILL BE APPROPRIATE TO CUT RATES https://t.co/Xd8NnogTLP
🔴 FED'S POWELL: I HAVE ALWAYS FELT THERE WAS A POSSIBILITY ECONOMY COULD AVERT RECESSION WHILE INFLATION CAME DOWN, AND SO FAR THAT'S WHAT WE ARE SEEING. THAT SAID, THE RESULT IS NOT GUARANTEED.
FOMC PRESSER: Question: Can you confidently say the economy has avoided a recession? Powell: I think you can say there is little basis for saying the economy is in a recession now.
🔴 ⚠️ BREAKING: FED'S POWELL: ON RATE CUTS, THAT BEGINS TO COME INTO VIEW, AND IS NOW A TOPIC OF DISCUSSION.
Powell: we think there is a possibility we might not hike 🚀(market LOVING this)
🔴 FED'S POWELL: WE ARE SEEING STRONG GROWTH THAT APPEARS TO BE MODERATION, AND INFLATION MAKING REAL PROGRESS.
🔴 FED'S POWELL: POLICYMAKERS ARE THINKING AND TALKING ABOUT WHEN IT WILL BE APPROPRIATE TO CUT RATES.
🔸FED'S POWELL: NOT LIKELY WE WILL HIKE FURTHER
🔴 FED'S POWELL: IT IS NOT LIKELY WE WILL HIKE FURTHER.
🔴 FED'S POWELL: WE ARE STILL FOCUSED ON THE QUESTION OF WHETHER RATES ARE HIGH ENOUGH.
Question: Are you pretty much done with rate hikes? Powell: We believe we are likely at the peak rate for this cycle but didn't want to take future hikes off the table.
🇺🇸 FED'S JEROME POWELL: WE BELIEVE OUR POLICY RATE IS AT OR NEAR ITS PEAK
⚠FED'S POWELL: POLICYMAKERS DON'T WANT TO TAKE POSSIBILITY OF FURTHER HIKES OFF THE TABLE
🔴 FED'S POWELL: POLICYMAKERS DON'T WANT TO TAKE POSSIBILITY OF FURTHER HIKES OFF THE TABLE.
🔴 FED'S POWELL: WE'RE PREPARED TO TIGHTEN POLICY FURTHER IF APPROPRIATE.
🔴 FED'S POWELL: WHILE WE BELIEVE OUR POLICY RATE IS LIKELY AT OUR NEAR ITS PEAK FOR THIS CYCLE, WE HAVE BEEN SURPRISED IN THE PAST.
📣#Fed Chair #Powell: "Inflation has eased from its highs, and this has come without a significant increase in unemployment. That's very good news. But #inflation is still too high. ongoing progress in bringing it down is not assured and the path forward is uncertain." https://t.co/yfmh8MpXqL
🔴 FED'S POWELL: THE FULL EFFECTS OF TIGHTENING ARE LIKELY NOT YET FELT.
🔸FED'S POWELL: WELL INTO RESTRICTIVE TERRITORY 🔸FED'S POWELL: FULL EFFECTS OF TIGHTENING LIKELY NOT YET FELT 🔸FED'S POWELL: PROCEEDING CAREFULLY 🔸FED'S POWELL: GIVEN HOW FAR WE'VE COME, AND GIVEN UNCERTAINTIES, WE ARE PROCEEDING CAREFULLY
🔴 FED'S POWELL: GIVEN HOW FAR WE'VE COME AND GIVEN UNCERTAINTIES, WE ARE PROCEEDING CAREFULLY.
🔸FED'S POWELL: INFLATION HAS EASED WITHOUT SIGNIFICANT INCREASE IN UNEMPLOYMENT 🔸FED'S POWELL: INFLAITON STILL TOO HIGH 🔸FED'S POWELL: PATH FORWARD UNCERTAIN 🔸FED'S POWELL: FULLY COMMITTED TO RETURNING INFLATION TO 2% 🔸FED'S POWELL: WE HAVE SIGNIFICANTLY TIGHTENED… https://t.co/TUTtEVyNTv
🔴 FED'S POWELL: WE'RE WELL INTO RESTRICTIVE TERRITORY.
🔴 FED'S POWELL: THE PATH FORWARD UNCERTAIN.