SUMMARY OF FED CHAIR POWELL'S STATEMENT
1. Inflation is "much closer" to 2% Fed target
2. Activity in the housing market has been weak
3. Wage growth in the United States has eased
4. Labor market is not a source of inflation pressures
5. Fed can be more cautious in reducing interest rates
6. Inflation expectations remains "well anchored"
The "Fed pivot" is taking another pause.
1. Inflation is "much closer" to 2% Fed target
2. Activity in the housing market has been weak
3. Wage growth in the United States has eased
4. Labor market is not a source of inflation pressures
5. Fed can be more cautious in reducing interest rates
6. Inflation expectations remains "well anchored"
The "Fed pivot" is taking another pause.