Investing.com – Federal Reserve Chairman Jerome made a set of statements that may shock markets due to the uncertainty they express.
Powell said:
- We are preparing for economic performance different from expectations
- Waiting too long for a cut may hurt the job market
- Cutting rates too much would be destabilizing
- We did not overreact to the data last year, and we will not overreact this year
- The February inflation reading is definitely in line with what we want to see
- My first impression of the reading is that it is consistent with our expectations, and it is good to see the data being consistent with our expectations
- Monetary policy is well positioned to deal with various data paths
- The data has surprised us before so we have to be very humble and be prepared for different outcomes
- We said that we expect a move towards 2%, but the road is full of bumps
- We’ll let the data tell us whether the recent rally is just a bump, we don’t know
- If our base scenario does not materialize, we will keep interest rates high for a longer period
- We do not know when interest will return to what it was when all events ended
- The economy is suffering from current interest rates
- We saw progress being made on inflation
- The work to reduce inflation is not over yet, but the inherent risk to the Fed’s goals is balanced
- If we see unexpected weakness in the labor market, we might respond by adjusting policy
- The threat of recession has not yet completely neutralized
- We have a chance to reduce inflation without hurting the economy
- There is no compelling reason for the economy to be on the brink of recession
- Slowing down the Fed’s budget reduction is not the main point of monetary policy
- At some point we will reduce the work to reduce the budget
- As the pace slows down, we intend to reduce the budget without repercussions on the economy
- The Fed’s adoption of a unanimous decision does not negate the difference of views during the meetings
- The rate decision is not complete before the monetary policy meeting
- We worked with banks on commercial real estate crises
- Some banks, small banks in particular, will have to focus on commercial real estate crises. We are working with them to ensure there is enough capital, and I think it will be fine
- Commercial real estate will be an issue for a few years to come
- The fact that the US economy is growing strongly, and the labor market is strong, gives us the opportunity to be confident about inflation until interest rates are cut
Markets are closed today in celebration of Good Friday, so there is no immediate impact on or or oil or.
The markets will know the repercussions of Powell’s statement after the markets return to work next Monday.
While the comments confused the market, it fell by more than 2%, recording the price of $69,085 per coin.
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