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Fed's Powell: We have significantly tightened monetary policy
FED'S POWELL: WE HAVE SIGNIFICANTLY TIGHTENED MONETARY POLICY #News #Markets #POWELL #live
— Capital Hungry (@Capital_Hungry) December 13, 2023
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FED'S POWELL: WE WILL MAKE FUTURE DECISIONS ON TOTALITY OF DATA, EVOLVING OUTLOOK AND INCOMING RISKS #News #Markets #POWELL #live
— Capital Hungry (@Capital_Hungry) December 13, 2023
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FED'S POWELL: WE'RE WELL INTO RESTRICTIVE TERRITORY.
— Breaking Market News (@financialjuice) December 13, 2023
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FED'S POWELL: ACTIVITY IN HOUSING SECTOR HAS FLATTENED OUT
— *Walter Bloomberg (@DeItaone) December 13, 2023
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The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, ...
In conjunction with the Federal Open Market Committee (FOMC) meeting held on December 12–13, 2023, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2023 to 2026 and over the longer run. Each participant’s projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy—including a path for the federal funds rate and its longer-run value—and assumptions about other factors likely to affect economic outcomes. The longer-run projections represent each participant’s assessment of the value to which each variable would be expected to converge, over time, under appropriate monetary policy and in the absence of further shocks to the economy. “Appropriate monetary policy” is defined as the future path of policy that each participant deems most likely to foster outcomes for economic activity and inflation that best satisfy his or her individual interpretation of the statutory mandate to promote maximum employment and price stability. post: Fed Officials See Lower Inflation, Slower GDP Growth in 2024 Fed Officials See 0.75 Pct-Point Rate Cuts in 2024 Fed Officials See Additional Rate Cuts in 2025, 2026 post: Fed Officials See 3.2% Core Inflation at End of 2023, 2.4% at End of 2024, 2.2% at End of 2025, 2.0% at End of 2026 Fed Officials See 2.8% Inflation at End of 2023, 2.4% at End of 2024, 2.1% at End of 2025, 2.0% at End of 2026 Fed Officials See 3.8% Unemployment at End… post: Most Fed Officials See Rate Cuts in 2024 post: #FOMC #OOTT dot plot pic.twitter.com/bSTQiDG37n
Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. The U.S. banking system is sound and resilient. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. The Committee will continue to assess additional information and its implications for monetary policy. In determining the extent of any additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Austan D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel Kashkari; Adriana D. Kugler; Lorie K. Logan; and Christopher J. Waller. post: FOMC STATEMENT COMPARE pic.twitter.com/5qtTLhfoeR post: FED: THE FOMC VOTE WAS UNANIMOUS.
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post: FED'S POWELL: THE FULL EFFECTS OF TIGHTENING ARE LIKELY NOT YET FELT. post: *POWELL: INFLATION HAS EASED BUT STILL TOO HIGH post: FED'S POWELL: GROWTH IN ECONOMIC ACTIVITY HAS SLOWED SUBSTANTIALLY. post: FED'S POWELL: THE LABOR MARKET REMAINS TIGHT, BUT IS COMING INTO BETTER BALANCE. post: FED'S POWELL: NOMINAL WAGE GROWTH APPEARS TO BE EASING.
post: FED'S POWELL: THE LOWER INFLATION READINGS OVER THE LAST SEVERAL MONTHS ARE WELCOME. post: FED'S POWELL: WE ANTICIPATE GETTING INFLATION TO 2% WILL TAKE SOME TIME post: 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. post: FED'S POWELL: WE'RE PREPARED TO TIGHTEN POLICY FURTHER IF APPROPRIATE. post: POWELL: POLICYMAKERS DON'T WANT TO TAKE THE POSSIBILITY OF FURTHER HIKES OFF THE TABLE
post: FED'S POWELL: WE WILL KEEP POLICY RESTRICTIVE UNTIL WE'RE CONFIDENT WE'RE ON THE PATH TO 2% INFLATION. post: FED'S POWELL: WE ADDED THE WORD "ANY" TO SHOW THAT WE THOUGHT WE LIKELY AT OR NEAR PEAK FOR RATES. post: FED'S POWELL: IT IS NOT LIKELY WE WILL HIKE FURTHER. post: FED'S POWELL: WE ARE STILL FOCUSED ON THE QUESTION OF WHETHER RATES ARE HIGH ENOUGH post: FED'S POWELL: WE ARE SEEING STRONG GROWTH THAT APPEARS TO BE MODERATION, AND INFLATION MAKING REAL PROGRESS.
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- Posted: Dec 13, 2023 2:32pm
- Submitted by:Category: High Impact Breaking NewsComments: 0 / Views: 4,323
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