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Powell: Semiannual Monetary Policy Report to the Congress
Chairman McHenry, Ranking Member Waters, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve's semiannual Monetary Policy Report. The Federal Reserve remains squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. The economy has made considerable progress toward these objectives over the past year. While inflation remains above the Federal Open Market Committee's (FOMC) objective of 2 percent, it has eased substantially, and the slowing in inflation has occurred without a significant increase in unemployment. As labor ... (full story)
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*POWELL: LIKELY APPROPRIATE TO CUT RATES AT SOME POINT THIS YEAR
— Nour Eldeen Al-Hammoury (@NourHammoury) March 6, 2024
*POWELL REITERATES FED NEEDS MORE CONFIDENCE ON INFLATION TO CUT
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Fed Chair Jay Powell’s testimony to Congress
— Nick Timiraos (@NickTimiraos) March 6, 2024
1) He characterizes last year’s slowdown in core inflation as “notable” and “widespread”
2) The forward guidance around rate cuts is little changedhttps://t.co/BxIRu0KPkW pic.twitter.com/61huWjQNSJ
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Fed’s Powell: Risks to Both Cutting Rates Too Early and Too Fast as Well as Too Late or Too Little
— DB News TradFi (@DBNewswire) March 6, 2024
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FED'S POWELL: WHILE INFLATION STILL ABOVE 2%, IT HAS EASED SUBSTANTIALLY || FED'S POWELL: ECONOMY HAS MADE CONSIDERABLE PROGRESS OVER PAST YEAR ON DUAL MANDATE
— First Squawk (@FirstSquawk) March 6, 2024