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Powell: Opening Remarks
Before our discussion, I will take a few minutes to discuss recent economic data and the outlook for monetary policy. Recent Economic Data Incoming data over recent months show ongoing progress toward both of our dual mandate goals—maximum employment and stable prices. Inflation By the time the Federal Open Market Committee (FOMC) raised rates in March 2022, it was clear that restoring price stability would require both the unwinding of pandemic-related distortions to supply and demand, and also restrictive monetary policy to cool strong demand and give supply time to catch up. These forces are now working together ... (full story)
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<=USD>:*POWELL: FOMC `PROCEEDING CAREFULLY' GIVEN RISKS, HIKES SO FAR
— Cable FX Macro (@cablefxmacro) October 19, 2023
️*POWELL:`ADDITIONAL EVIDENCE' OF STRONG ECONOMY MAY MERIT HIKING
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POWELL: GEOPOLITICAL TENSIONS `HIGHLY ELEVATED,' POSE KEY RISKS
— *Walter Bloomberg (@DeItaone) October 19, 2023
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POWELL: THERE MAY STILL BE MEANINGFUL TIGHTENING IN THE PIPELINE
— *Walter Bloomberg (@DeItaone) October 19, 2023
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Fed's Powell:
— DailyFX Team Live (@DailyFXTeam) October 19, 2023
The Fed's role is to monitor highly elevated geopolitical tensions that pose important risks to global economic activity
-The extent of additional policy firming and how long to keep policy restrictive will depend on data, outlook, balance of risks
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