Fed’s Powell: A Decision on a Pause Was Not Made Today— *seven (@sevenloI) May 3, 2023
FED'S POWELL: THE STAFF PREDICTED A MILD RECESSION IN GENERAL HOWEVER, MY FORECAST IS FOR MODEST GROWTH, NOT A RECESSION.— Breaking Market News (@financialjuice) May 3, 2023
POWELL: NO ONE SHOULD ASSUME THE FED CAN PROTECT THE ECONOMY FROM A FAILURE TO PAY BILLS ON TIME— *Walter Bloomberg (@DeItaone) May 3, 2023
Fed’s Powell: Hard to Predict How Much Credit Tightening Will Replace Need for Any Further Rate Hikes— *seven (@sevenloI) May 3, 2023
Fed’s Powell: Not Possible to Say With Confidence if Have Reached Sufficiently Restrictive Level— *seven (@sevenloI) May 3, 2023
tweet at 2:32pm: Fedís Powell: Conditions In Banking Sector Have Broadly Improved, Banking System Is Sound & Resilient $DXY $USDJPY #FOMC tweet at 2:32pm: Fedís Powell: We Will Take a Data Depended Approach to Determine Extent of Further Rate Hikes tweet at 2:35pm: Fedís Powell: Labor Market Remains ĎVery Tightí Fedís Powell: Nominal Wage Growth Has Shown Signs Of Easing Fedís Powell: Inflation Well Above Goal Fedís Powell: Inflation Has Moderated Somewhat Fedís Powell: Have a Long Way to Go to Bring Down Inflation tweet at 2:36pm: Fedís Powell: We Are Seeing the Effects of Policy Tightening, Particularly Housing And Investment Fedís Powell: Will Take Time for Full Effects of Monetary Restraint to Be Realize Fedís Powell: Economy Is Likely to Face Headwinds From Credit Conditions tweet at 2:37pm: [DB] Powell: We Are Prepared to Do More if Warranted: RTRS
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, ...
Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter 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 raise the target range for the federal funds rate to 5 to 5-1/4 percent. The Committee will closely monitor incoming information and assess the implications for monetary policy. In determining the extent to which additional policy firming 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 tweet at 2:00pm: Fed Hikes By 25bps to 5.25% Est. 5.25% tweet at 2:00pm: Fed Opens Door to Rate-Hike Pause tweet at 2:00pm: Fed Drops Language That It ĎAnticipatesí More Policy Firming May Be Appropriate to Attain ĎSufficiently Restrictiveí Stance tweet at 2:01pm: FOMC STATEMENT COMPARE https://t.co/MT326Ka86u
tweet at 3:00pm: Fedís Powell: Continue to Think That Itís Possible That This Time Is Really Different Fedís Powell: There Are No Promises, but Itís Possible We Can Continue to Have Labor Market Cooling Without Big Increases in Unemployment tweet at 3:00pm: Fedís Powell: Case of Avoiding Recession Is More Likely Than Having A Recession tweet at 3:03pm: FED'S POWELL: I DON'T THINK WAGES ARE A PRINCIPLE DRIVER OF INFLATION. tweet at 3:05pm: Fedís Powell: A Particular Focus Now and Going Forward Is Whatís Happening With Credit Tightening tweet at 3:06pm: Fedís Powell: Would Not Be Appropriate to Cut Rates, Given Our View That Inflation Will Take Some Time to Come Down
tweet at 3:17pm: Fedís Powell: Support for Rate Hike Today Was Very Strong Powell: There Is a Sense We Are Much Closer to the End Than the Beginning Powell: We Feel Like We Are Close, or Maybe Even There
The Federal Deposit Insurance Corp. failed to create a level playing field for nonbank bidders pursuing First Republic Bank, according to FDIC board member Jonathan McKernan. ...