News about Jerome Powell

Fed Chair Jay Powell’s approach to cutting interest rates based on forecasts that inflation will continue moving lower could be summed up by the phrase “Trust, but verify.” He used the word “confident” or “confidence” 20 times at a press conference www.wsj.com/economy/central-banking/stung-by-past-mistakes-a-wary-fed-takes-its-time-e361a364?st=57v57wvnlafntfi

Powell: "If you look back in five or ten years and try to pull out the significant to the U.S. economy of one 25-basis-point cut, you have quite a job on your hands."

Summary of Fed Chair Powell today: 1) He opened the door to a September rate cut (He said 1 or 2 are "plausible" in 2024) 2) Economy remains strong. "We're getting good results here" 3) Fed needs more good data on inflation 3) He thinks labor market is back to 2019 conditions pic.twitter.com/y0fGgfZzzB

Fed Chair Powell opens the door to a September rate cut. -"15 of the 19 [dots] are clustered around 1 or 2 [cuts]. I would look at all of them as plausible." -"More good inflation reading will help." -Weaker job data would also impact thinking, he says pic.twitter.com/XWVznp4AE8