LearningFed Chair Powell says Fed projections are not a plan or decision and will continue to make decisions meeting by meeting

Fed leaves rates unchanged as expected at 5.00-5.25%; raises 2023 dot plot to 5.6% from 5.1% in March Holding target range steady allows time to assess additional information and implications for policy. Inflation remains elevated, remains highly attentive to inflation risks. Committee strongly committed to returning inflation to its 2% objective. Banking system is sound and resilient. Tighter credit conditions for households and businesses likely to weigh on economic activity, hiring and inflation but extent of effects remain uncertain. Job gains have been robust in recent months, unemployment rate has remained low. Vote in favour of policy was unanimous Fed Chair Powell (Q&A) says question of speed on rate hikes is separate from question of level of rates; we are not so far away from destination on Fed funds rates It is reasonable to go slower as we approach rates destination. Most policymakers thought it is reasonable to adjust to a slower pace. We do not know full extent of banking turmoil consequences. We are trying to get this right. By July rates decision will have three months worth of data, will look at it all, the outlook and make the decision in July.

Darren Krett

Wednesday 14 June 2023

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Fed Chair Powell (Q&A) says question of speed on rate hikes is separate from question of level of rates; we are not so far away from destination on Fed funds rates It is reasonable to go slower as we approach rates destination. Most policymakers thought it is reasonable to adjust to a slower pace. We do not know full extent of banking turmoil consequences. We are trying to get this right. By July rates decision will have three months worth of data, will look at it all, the outlook and make the decision in July. facebook Fed Chair Powell (Q&A) says question of speed on rate hikes is separate from question of level of rates; we are not so far away from destination on Fed funds rates It is reasonable to go slower as we approach rates destination. Most policymakers thought it is reasonable to adjust to a slower pace. We do not know full extent of banking turmoil consequences. We are trying to get this right. By July rates decision will have three months worth of data, will look at it all, the outlook and make the decision in July. twitter Fed Chair Powell (Q&A) says question of speed on rate hikes is separate from question of level of rates; we are not so far away from destination on Fed funds rates It is reasonable to go slower as we approach rates destination. Most policymakers thought it is reasonable to adjust to a slower pace. We do not know full extent of banking turmoil consequences. We are trying to get this right. By July rates decision will have three months worth of data, will look at it all, the outlook and make the decision in July. linkedin

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Fed Chair Powell says Fed projections are not a plan or decision and will continue to make decisions meeting by meeting

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