LIVE: FED Chairman Jerome Powell Speaks After Interest Rate Decision – Here Are All The Highlights From His Speech

As we reported as Bitcoinsistemi.com, the FED announced that it left interest rates constant, as expected. Following this development, which is not a surprise, FED President Jerome Powell will make a press statement and then take questions from journalists.

Since the decision to keep the interest rate constant is an event that has been mentioned many times by analysts and is considered certain, the markets are focusing on what Jerome Powell will say.

Here are the important highlights from Jerome Powell’s speech:

• The economy has made significant progress, inflation has decreased significantly.
• But continued progress is not assured and the path forward is uncertain.
• Inflation has fallen significantly but remains very high.
• GDP was supported by strong consumer demand as well as improving supply chains.
• Risks to the FED achieving its goals are becoming more balanced.
• High interest rates have put pressure on businesses’ fixed income investments.
• Labor demand still exceeds labor supply, GDP forecasts have been revised higher due to data on labor supply.
• FOMC participants expect the rebalancing in the labor market to continue.
• Inflation expectations remain well stabilized.
• Our policy rate is probably at its peak.
• We are likely to cut interest rates at some point this year, but the outlook is uncertain and we remain cautious about the risks.
• We are prepared to keep interest rates high for longer if necessary.

*This is not investment advice.

Source