Powell speech: Core inflation has not come down as fast as we hoped
|FOMC Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US Senate Banking Committee.
Key quotes
"There is mismatch between supply and demand; we still see that in the goods sector, you also see it in the labor market."
"We will keep capital requirements strong."
"We have the tools to get inflation down over time."
"We will achieve 2% inflation goal."
"Core inflation has not come down as fast as we hoped, has a long way to go."
Market reaction
The US Dollar Index clings to strong daily gains at around 105.00 following these comments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.