FED POWELL: LAYOFFS AND HIRING REMAIN LOW, BUT SEPT DATA SHOW UNEMPLOYMENT EDGED UP, JOB GAINS SLOWED SHARPLY, AND LABOR DEMAND HAS CLEARLY SOFTENED
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FED POWELL: LABOR MARKET IS LESS DYNAMIC AND SOFTER WITH DOWNSIDE RISKS, WHILE INFLATION REMAINS SOMEWHAT ELEVATED
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FED POWELL: INFLATION RISKS ARE TILTED UP, EMPLOYMENT RISKS TILTED DOWN, AND THERE IS NO RISK-FREE POLICY PATH.
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FED POWELL: DOWNSIDE EMPLOYMENT RISKS HAVE RISEN AND SHIFTED THE RISK BALANCE, AND FURTHER POLICY NORMALIZATION OVER RECENT MEETINGS SHOULD HELP STABILIZE THE LABOR MARKET AND EASE INFLATION PRESSURES.
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FED POWELL: WELL POSITIONED TO ADJUST POLICY RATES, BUT SAYS POLICYMAKER PROJECTIONS ARE UNCERTAIN AND NOT A PLAN OR DECISION.
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FED POWELL: RESERVE BALANCES HAVE FALLEN TO AMPLE LEVELS AND PURCHASES ARE SOLELY FOR RESERVE MANAGEMENT.
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FED POWELL: RESERVE-MANAGEMENT PURCHASES MAY STAY ELEVATED FOR MONTHS TO EASE MONEY-MARKET PRESSURES, THEN DECLINE, AND SAYS STANDING REPO OPERATIONS ARE CRITICAL TO KEEP FED FUNDS IN TARGET RANGE.
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FED POWELL: “EXTENT AND TIMING” SIGNALS THE FED WILL CAREFULLY EVALUATE ALL INCOMING DATA.
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FED POWELL: TREASURY PURCHASES MAY REMAIN ELEVATED FOR A FEW MONTHS.
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FED POWELL: CONSUMER SPENDING REMAINS RESILIENT, AI DATA-CENTER INVESTMENT IS SUPPORTING BUSINESS SPENDING, AND THE BASELINE OUTLOOK SEES GROWTH PICKING UP NEXT YEAR.
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FED POWELL: FISCAL POLICY WILL BE SUPPORTIVE, BASELINE EXPECTS SOLID GROWTH NEXT YEAR, AND THE FED WILL RECEIVE A LOT OF NEW DATA BEFORE THE JANUARY MEETING.
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FED POWELL: WE CAN WAIT AND SEE HOW THE ECONOMY EVOLVES, AND CURRENT PROJECTIONS IMPLY HIGHER PRODUCTIVITY.
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TRUMP: FROM JAN 1, 2026, THE U.S. WILL IMPOSE A PHASED-IN TARIFF OVER TWO YEARS ON ALL IMPORTED NICARAGUAN GOODS NOT COVERED BY EXISTING TRADE AGREEMENTS.
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USTR: TARIFF WILL START AT 0% ON JAN 1, 2026, RISE TO 10% ON JAN 1, 2027, AND THEN TO 15% ON JAN 1, 2028.
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FED POWELL: OUR TWO GOALS ARE IN TENSION; EVERYONE AGREES INFLATION IS TOO HIGH AND THE LABOR MARKET HAS SOFTENED WITH FURTHER RISKS.
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FED POWELL: DISCUSSIONS ARE THOUGHTFUL AND RESPECTFUL WITH STRONG VIEWS, BUT WE COME TOGETHER TO REACH DECISIONS, AND THERE WAS BROAD SUPPORT FOR TODAY’S DECISION.
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FED POWELL: BROAD SUPPORT FOR TODAY’S DECISION, RATE-CUT EFFECTS ARE JUST BEGINNING TO SHOW, AND THE FED MUST CAREFULLY ASSESS HOUSEHOLD SURVEY DATA.
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