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Fed's Powell: To start cutting rates, we'd have to be very confident inflation moving back down to 2%, likely to take some time
FED'S POWELL: TO START CUTTING RATES, WE'D HAVE TO BE VERY CONFIDENT INFLATION MOVING BACK DOWN TO 2%
— *seven (@sevenloI) September 21, 2022
FED'S POWELL: LIKELY TO TAKE SOME TIME TO SEE FULL EFFECTS OF CHANGING FINANCIAL CONDITIONS ON INFLATION
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FED'S POWELL: WE'VE JUST MOVED INTO LOWEST LEVELS OF WHAT WE CONSIDER RESTRICTIVE TODAY
— *seven (@sevenloI) September 21, 2022
FED'S POWELL: HAVE TODAY JUST MOVED TO 'VERY LOWEST' LEVEL OF RESTRICTIVE
FED'S POWELL: THERE'S A WAYS TO GO ON RATES
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FED'S POWELL: WE SEE CURRENT SITUATION AS OUTSIDE OF HISTORICAL NORMS
— *seven (@sevenloI) September 21, 2022
FED'S POWELL: THAT'S WHY UNEMPLOYMENT RATE MAY NOT RISE AS MUCH AS IN PAST RECESSIONS
FED'S POWELL: PLAUSIBLE THAT JOB OPENINGS COULD COME DOWN WITHOUT AS MUCH OF INCREASE IN UNEMPLOYMENT
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FED'S POWELL: LONGER RUN INFLATION EXPECTATIONS THIS CYCLE HAVE REMAINED FAIRLY WELL ANCHORED
— *seven (@sevenloI) September 21, 2022
FED'S POWELL: THAT WILL ALSO MAKE IT EASIER TO BRING INFLATION DOWN
FED'S POWELL: PART OF INFLATION CAUSED BY SUPPLY SHOCKS
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FED'S POWELL: COMMODITY PRICES LOOK LIKE THEY MAY HAVE PEAKED
— *seven (@sevenloI) September 21, 2022
FED'S POWELL: IF SUPPLY SHOCKS ALSO ABATE, COULD ALSO EASE PRESSURES ON INFLATION
FED'S POWELL: RESTORING PRICE STABILITY WHILE ACHIEVING SOFT LANDING IS CHALLENGING