👉 He believes that the current situation of the economy is still healthy, high inflation has decreased significantly and the labor market is still healthy (meaning that Non-Farm T10 with the extremely low number of 12k jobs since the past 3 years is definitely due to the impact of the storm and the previous strike).
👉 He remains committed to maintaining the target, bringing inflation down to 2%
👉 If the economy remains strong and inflation does not continue to fall to 2%, policy adjustment will be slower (maybe slowing rate cuts, maybe holding steady) - Short-term elections will not affect policy
He said more in-depth data may be needed to make better decisions.
He will not reveal the roadmap for cuts at this meeting, but remains confident in the target of bringing inflation back to 2%.
The decision to cut interest rates this month was something he had anticipated, but if the labor market continued to deteriorate "I (the Fed) may act sooner" (cut interest rates as soon as the labor market showed signs of weakness).
Current economic data does not suggest further aggressive cuts are needed - Fed is satisfied with current economy
If he is asked to resign, he will not resign - Because by law the president does not have the power to fire or remove a FED governor (including Trump of course) 🌚🌚
Oh so hard 🔥🔥
