Fed's Powell: We Have Confidence, Looking For Greater Confidence

post: FED'S POWELL: OUR POLICY RATE IS LIKELY AT ITS PEAK. post: FED'S POWELL: IF THE ECONOMY EVOLVES AS EXPECTED, WE WILL DIAL BACK THE POLICY RATE THIS YEAR. post: FED'S POWELL: I AM PREPARED TO MAINTAIN THE CURRENT POLICY RATE FOR LONGER IF NEEDED. post: FED'S POWELL: REDUCING POLICY RESTRAINT TOO SOON OR TOO MUCH COULD REVERSE INFLATION PROGRESS. post: ? POWELL: WE NEED GREATER CONFIDENCE BEFORE WE REDUCE POLICY RATE

post: FED'S POWELL: THE ECONOMY HAS MADE GOOD PROGRESS, INFLATION HAS EASED. post: FED'S POWELL: THE POLICY RATE WELL INTO RESTRICTIVE TERRITORY. post: *POWELL: ECONOMIC ACTIVITY HAS BEEN EXPANDING AT SOLID PACE post: FED'S POWELL: ACTIVITY IN THE HOUSING SECTOR HAS SUBDUED. post: FED'S POWELL: THE LABOR MARKET REMAINS TIGHT.

post: Powell: If we saw an unexpected weakening in the labor market, that would certainly call for cutting sooner. If inflation was stickier or higher than anticipated, that would argue for moving later. post: Fed's Powell: There Was No Proposal To Cut Rates Today post: Fed's Powell: Economy Is Broadly Normalizing post: FED'S POWELL: I THINK LOWER RENT COSTS ARE COMING, AND WILL FEED THROUGH. LOWER RENTAL INFLATION IS IN EVERYONE'S FORECAST. post: FED'S POWELL: SUPPLY CHAINS NOT YET BACK FULLY TO WHERE THEY WERE.

post: Fed's Powell: I Would Not Say We Have Achieved Soft Landing Yet - Am Encouraged Though By Progress We've Made - We Are Not Declaring Victory - May Still Be A Tailwind On Disinflation From Goods post: FED'S POWELL: THE SUPPLY SIDE HAS BEEN RECOVERING, BUT THAT WON'T GO ON FOREVER. post: FED'S POWELL: A LOT OF THE ECONOMIC GROWTH WE ARE SEEING IS DUE TO POST-PANDEMIC HEALING, WHEN THAT PETERS OUT, OUR RESTRICTIVE RATE WILL SHOW UP MORE SHARPLY. post: *POWELL: LABOR MARKET BY MANY MEASURES IS AT OR NEARING NORMAL post: ? POWELL: WILL PROBABLY TAKE A COUPLE OF YEARS FOR WAGES TO NORMALIZE

post: Fed's Powell: More Concerned Inflation Will Stabilize At Elevated Level - We Are Not Rushing post: Fed's Powell: We Do Expect Economic Growth Will Moderate post: Fed's Powell: We Are Not Looking For Inflation To Tap 2% Once; We Are Looking For It To Settle Out At 2% post: Powell gives a hard shove *against* a March cut: "I don't think it's likely that the committee will reach a level of confidence by the time of the March meeting to identify March as the time to [cut], but that's to be seen." post: FED'S POWELL Q&A: FED CAN'T ADDRESS SHORTAGE OF HOUSING SUPPLY; MKT RENTS FLAT OR INCREASING AT SLOWER RATE AND THAT WILL SHOW UP IN INFLATION #Powell #FOMC #FederalReserve #economy