đšđșđžHere is the full coverage of
#JeromePowell Powell's speech, in addition to journalists' questions and his responses to them.đđșđž The
#USGDP Federal Reserve is committed to returning inflation towards its specified target and optimal exploitation of the labor market.đđșđžIn light of recent developments, the US Federal Reserve has become more cautious.đđșđžAdditional tightening of monetary policy will depend on how economic data develops.đđșđžRecent data indicates that economic activity is growing at a very strong pace.đđșđžConditions in the labor market are still very strong, although the pace has clearly slowed.âđđșđžDemand for employment still exceeds supply.đđșđžUS inflation is still higher than its target.đđșđžInflation has moderated clearly during the recent period.Some positive data does not mean that we have achieved our goal.đđșđžWe still have a lot of time to achieve the inflation target.The US Federal Reserve understands the difficulty of inflation for citizens.đđșđžThe US Federal Reserve raised interest rates significantly to control high inflation.đđșđžThe US Federal Reserve is committed to a tightening monetary policy in an attempt to control inflation and move towards its specified target.đđșđž The lack of calm conditions in the labor market may represent a danger to achieving the US Federal Reserveâs inflation target.đđșđžThe US Federal Reserve is monitoring local and global developments very carefully.đđșđžThe upcoming interest rate decisions will be taken at each meeting separately, and will depend on the upcoming economic data.đđșđžThe US Federal Reserve is committed to returning inflation towards its specified target, and this may require that conditions in the labor market weaken slightly.đđșđž We understand that the decisions of the US Federal Reserve affect all citizens.đđșđžAll decisions taken by the Fed are consistent with its commitments to achieving the goals of inflation and optimal exploitation of the labor market.đšđșđžJerome Powell answers journalistsâ questions:đđșđžInflation has clearly decreased, but it is still above its target.đđșđžUnemployment has risen slightly, but conditions in the labor market are still very strong.đđșđžThe US Federal Reserve is not yet sure that it has reached the peak of raising interest.đđșđž Tight monetary policy should remain for a while.We will take a decision to tighten monetary policy further if this is appropriate to curb high inflation.đđșđžWe have a lot of economic data, whether inflation data, labor market data, or economic growth data.đđșđžAll of this data affects interest decisions.đđșđžMaking a decision to raise interest again may depend on the pace of upcoming data.đđșđžEconomic recession is not among our basic scenarios.đđșđžFinancial conditions are very restricted at the moment and this can be clearly seen.đđșđžIt seems that our monetary policy is starting to affect the economy, but the American economy appears to be stronger and more resilient than we thought.đđșđžWe are dealing with the current economic situation as it currently is.đđșđžIf members of the US Federal Reserve see that the economic situation requires raising interest again, it will take a decision to do so.đđșđžThe current question currently is to what extent the US Federal Reserve can raise the interest rate.đđșđžThe next question will be to what extent the US Federal Reserve can maintain high interest rates.đđșđžI think that the thinking might be to raise the interest rate once additionally, not twice.đđșđž The US Federal Reserve is monitoring geopolitical tensions as they occur in Russia and Ukraine and between Hamas and Israel.đđșđžThe best task the US Federal Reserve can do for the United States is to restore the goal of price stability.đđșđžWe are trying to restore the inflation target without unemployment rising too high.đđșđžEconomic growth is very strong.đđșđž Most likely, we may need economic growth to slow down and conditions in the labor market to calm down, in order for us to restore the inflation target.đđșđžWe are currently working together to achieve the inflation goal.đđșđžWe may need some slowdown until the goal of price stability is achieved.đđșđžEconomic data is what will tell us what to do and whether we will continue to raise interest or not.đđșđž Interest expectations for US Federal Reserve members may change based on economic developments.đđșđž Interest expectations were changed during the quarterly meetings of the US Federal Reserve based on economic developments.đđșđžThe US Federal Reserve moves each meeting individually, and this depends on the economic data.đđșđžThe US Federal Reserve is moving very cautiously, and monetary policy is tightening at the present time, and we are seeing its repercussions on the American economy currently.đđșđžWe monitor many economic conditions and developments.