Powell speech: History cautions against prematurely loosening policy
|FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve's decision to raise the policy rate by 25 basis points to the range of 4.5-4.75% following the first policy meeting of 2023.
Key quotes
"Seeing effects of policy on demand in housing, but will take time for full effects to be realized."
"Will take time for full effects of our actions to be realized."
"These lags fed into our decision to raise by 25 bps today."
"In light of cumulative tightening and lags, Fed continued step-down from last year's fast pace."
"A slower pace allows us to better assess progress toward our goals."
"We will continue to make decisions meeting by meeting."
"Our focus in on using our tools to bring inflation down."
"Reducing inflation is likely to require below trend growth, some softening in labor market."
"History cautions against prematurely loosening policy."
"We will stay the course until job is done."
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.