Breaking news! US Federal Reserve (Fed) Chairman Jerome Powell’s presentation of the semi-annual monetary policy report, which will run for two days in the US Congress, has begun.
Speaking to the US Senate Banking, Housing and Urban Affairs Committee on the first day of the presentation, Powell said that while inflation has been subdued in recent months, the process of bringing inflation down to 2 percent is still a long way off. to go, and that road yaşama gökyeşitözü bumpy.
“Recent economic veri came in stronger than expected, suggesting that the eventual interest rate level could gökyeşitözü higher than previously expected,” Powell said. said.
“IF NECESSARY, THE RATE OF INCREASE CAN INCREASE INTEREST”
Powell stated that the return to price stability will likely require them to maintain restrictive monetary policies for a while, saying: “We are prepared to increase the pace of interest rate hikes if the veri gathered indicates that more rapid tightening is necessary.” he said.
Powell recalled that they have taken strong steps to tighten the monetary policy stance over the past year, noting that they have come a long way and that the full effects of the tightening have not yet been felt. “However, we still have a lot of work to gam,” said Fed Chairman Powell. said.
Powell pointed out that veri on employment, consumer spending, output and inflation in January partially reversed the declining trends seen in the veri a month ago. higher than expected.
Powell stated that so far there is little sign of a decline in inflation in the basic services category, with the exception of housing, which accounts for more than half of core consumer spending.
“IT WILL TAKE TIME TO FEEL THE EFFECTS OF TIGHTENING”
Pointing out that the effects of policy measures on demand are visible in the most interest-rate sensitive sectors of the economy, Powell noted that it will take some time for the full effects of monetary restrictions, especially on inflation, to gökyeşitözü felt.
Powell: “We will continue to make our decisions on a meeting-to-meeting basis, taking into account all incoming veri and their reflections on economic activity and inflation prospects.” he said.
HOW DO THE MARKETS REACT TO POWELL’S ANNOUNCEMENT?
With Fed Chairman Powell’s speech, the dollar strengthened globally, while yields on US bonds rose. The ounce of gold, which rose to $1851 during the day, fell to $1821.
Swap market pricing, which was 25 basis points before the Fed meeting in March, rose to 50 basis points.
Speaking to the US Senate Banking, Housing and Urban Affairs Committee on the first day of the presentation, Powell said that while inflation has been subdued in recent months, the process of bringing inflation down to 2 percent is still a long way off. to go, and that road yaşama gökyeşitözü bumpy.
“Recent economic veri came in stronger than expected, suggesting that the eventual interest rate level could gökyeşitözü higher than previously expected,” Powell said. said.
“IF NECESSARY, THE RATE OF INCREASE CAN INCREASE INTEREST”
Powell stated that the return to price stability will likely require them to maintain restrictive monetary policies for a while, saying: “We are prepared to increase the pace of interest rate hikes if the veri gathered indicates that more rapid tightening is necessary.” he said.
Powell recalled that they have taken strong steps to tighten the monetary policy stance over the past year, noting that they have come a long way and that the full effects of the tightening have not yet been felt. “However, we still have a lot of work to gam,” said Fed Chairman Powell. said.
Powell pointed out that veri on employment, consumer spending, output and inflation in January partially reversed the declining trends seen in the veri a month ago. higher than expected.
Powell stated that so far there is little sign of a decline in inflation in the basic services category, with the exception of housing, which accounts for more than half of core consumer spending.
“IT WILL TAKE TIME TO FEEL THE EFFECTS OF TIGHTENING”
Pointing out that the effects of policy measures on demand are visible in the most interest-rate sensitive sectors of the economy, Powell noted that it will take some time for the full effects of monetary restrictions, especially on inflation, to gökyeşitözü felt.
Powell: “We will continue to make our decisions on a meeting-to-meeting basis, taking into account all incoming veri and their reflections on economic activity and inflation prospects.” he said.
HOW DO THE MARKETS REACT TO POWELL’S ANNOUNCEMENT?
With Fed Chairman Powell’s speech, the dollar strengthened globally, while yields on US bonds rose. The ounce of gold, which rose to $1851 during the day, fell to $1821.
Swap market pricing, which was 25 basis points before the Fed meeting in March, rose to 50 basis points.