Powell repeats 'lot of slack in the labor market,' far from return to full employment

Powell repeats 'lot of slack in the labor market,' far from return to full employment

FED'S POWELL Q&A: REPEATS, 'LOT OF SLACK IN THE LABOR MARKET,' FAR FROM RETURN TO FULL EMPLOYMENT #Powell #federalreserve
— Mace News (@MaceNewsMacro) February 24, 2021

Added at 10:26am

"How close it the economy to meeting the Fed's goals?" asks Rep. Patrick McHenry (R-NC)

Powell: "We'll be purchasing assets at the current pace until we see substantial progress towards our goals, that's actual progress not forecast progress."
— Nate DiCamillo (@Nate_DiCamillo) February 24, 2021

Added at 10:27am

POWELL SAYS THIS WILL BE THE YEAR IN WHICH THE FED ENGAGES WITH PUBLIC ON DIGITAL DOLLAR
— Inara Bright (@InaraBright) February 24, 2021

Added at 10:29am

POWELL SAYS COULD WELL NEED LEGISLATIVE AUTHORIZATION FOR DIGITAL DOLLAR
— *Walter Bloomberg (@DeItaone) February 24, 2021

Added at 10:41am

Fed Chair Powell:
- We want inflation expectations anchored at 2%, not below
- We live in a world with a lot of disinflationary pressures
- We believe we can and will get to 2%, may take longer than three years to do so#Fed $USD
— DailyFX Team Live (@DailyFXTeam) February 24, 2021

Comments
Subscribe

Post #1
Quote
Feb 24, 2021 10:46am Feb 24, 2021 10:46am

billy61
| Joined Jan 2021 | Status: Junior Member | 2 Comments

So if 2% inflation is not gonna be met any time soon, the the dollar should be under pressure for the time being. Unless the dollar index turns around.

Post #2
Quote
Feb 24, 2021 11:54am Feb 24, 2021 11:54am

TogamiTrader
| Joined Jan 2020 | Status: Member | 39 Comments

I am sure this "no inflation" talk is foreign to retailers who are seeing wholesale prices shoot up. The problem their current metrics for measuring inflation is lagging (there are economic releases that confirm that is very true for small businesses). This has become apparent to investors as 10Y Treasury bond yields rally.

Post #3
Quote
Feb 24, 2021 2:16pm Feb 24, 2021 2:16pm

SterlingSnip
| Joined Nov 2020 | Status: Member | 31 Comments

Quoting billy61

Disliked

So if 2% inflation is not gonna be met any time soon, the the dollar should be under pressure for the time being. Unless the dollar index turns around.

Ignored

They just want to keep expectations low. They are playing a smart game

Post #4
Quote
Feb 24, 2021 2:58pm Feb 24, 2021 2:58pm

TogamiTrader
| Joined Jan 2020 | Status: Member | 39 Comments

Quoting SterlingSnip

Disliked

{quote} They just want to keep expectations low. They are playing a smart game

Ignored

Ikr, stripping a Capital Flow reliant country of a strong currency is smart...

Post #5
Quote
Feb 24, 2021 9:07pm Feb 24, 2021 9:07pm

Momofrmnyc
| Joined May 2019 | Status: Rolling in the Pippppssss! | 654 Comments

They couldn't meet the mandate before and are definitely further off from meeting their inflation aspect of their mandate. I expect dollar to be weak for a good time.

Story Stats

Posted: Feb 24, 2021 10:23am
Submitted by:
Newsstand

Category: High Impact Breaking News

Comments: 5 / Views: 5,211
Linked event:
USD Fed Chair Powell Testifies