⚡ Jerome Powell (head of the #FED):

✔ Inflation remains high, including due to rising energy prices.
✔ The current monetary policy rate is considered sufficiently tight and in line with the FED's goals.
❗️The rise in energy prices will lead to a short-term increase in inflation.
❗️This is my last press conference as head of the FED.
✔ Events in the Middle East are increasing uncertainty.
✔ The demand for labor has clearly declined.
✔ I will remain on the FED board after May 15.
✔ Inflation expectations have been rising lately, and the unemployment rate has remained virtually unchanged.
❗️The surge in energy prices has likely not yet reached its peak.
❗️Within the FED, the number of officials supporting a transition to a neutral position has increased. There are also more who now consider a rate hike as likely as a rate cut.
✔ Most FED chairmen did not want to change the wording right now, but the next 30-60 days could seriously change the situation.
❗️Already at the next FED meeting, the FED may abandon signals of a possible easing of monetary policy.
✔ Interest rate policy is not moving along a fixed trajectory.
✔ We expect that inflation caused by customs duties will decline in the next two quarters.
✔ The labor market is not a source of inflation.

⚡ Jerome Powell (head of the #FED ):
(part 2)

✔ If it becomes necessary to raise the rate, we will give a corresponding signal in advance and take the necessary measures.
✔ We have all the opportunities to change the course of the DKP in any direction.
❗️At the moment, no one is advocating for a rate hike, but everything will depend on the further development of events (macro data).
✔ We can wait and observe how events develop before taking any action.
❗️Inflation is declining with difficulty. Perhaps it's worth taking some tightening measures. This could be the right step.
✔ The rise in oil prices is currently having a lesser impact on the US than on Europe and Asia. However, if the current situation drags on, the consequences for the American economy will become much more noticeable.
✔ The Fed understands that people are already feeling the impact of rising gasoline prices.
✔ Any supply shock could provoke an increase in inflation and unemployment. It is necessary to balance the goals of the Fed's dual mandate.
❗️The independence of the Fed is under threat.
✔ Every administration tries to use our tools for different purposes, and we have resisted this.
✔ The law defines the framework for the political independence of the Fed in making decisions on monetary policy, and we refuse to use our tools to achieve goals that go beyond our mandate.
✔ We are forced to turn to the courts to protect our ability to conduct monetary policy without political influence, and this is not the end.
✔ The Fed will continue to base its decisions on an analysis of the economic situation, not on politics.
❗️Kevin Warsh stated that he would oppose Trump, and I believe him.
✔ We will follow the outlined course until inflation returns to the target level of 2%.
✔ The economy is sufficiently stable.
✔ The unemployment rate is approaching its natural level, although some do not consider the labor market strong, because the number of layoffs and new hires remains low, and there are few new vacancies.
✔ Inflation remains the main problem that needs to be addressed.

🇺🇸 Donald Trump: Jerome "always late" Powell wants to stay at the Fed because he can't find a job anywhere else - he's not needed by anyone.

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