US FOMC Press Conference
It's among the primary methods the Fed uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, along with commentary about economic conditions such as the future growth outlook and inflation. Most importantly, it provides clues regarding future monetary policy;
The press conference is about an hour long and has 2 parts - first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. The press conference is webcasted on the Fed's YouTube channel in real-time. Source first conducted in Apr 2011;
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- US FOMC Press Conference News
The Federal Reserve’s policy rate range was cut by 25bps as widely expected. The duck-and-weave tone of most of the press conference basically made it clear that the FOMC is in some awkward limbo as it waits to see how other macroeconomic policies could change in the wake of the US election. Overall, however, I don’t think we learned much by way of nearer term perspectives today and the path to the December meeting remains data dependent with a significant bias toward another quarter point cut. A discussion around a handful of ...
Federal Reserve Chairman Jerome Powell said Thursday that he will not step down if President-elect Donald Trump asks for his resignation. When asked whether he would resign if asked by Trump, the Fed chair simply said: “No.” Powell subsequently told reporters that the president does not have the power to fire or demote him. “Not permitted under the law,” Powell told reporters at a press conference, after the Fed cut interest rates by a quarter percentage point. Investors will be closing watching the president-elect’s contentious ...
post: POWELL: **THE STORY IS CONSISTENT WITH INFLATION CONTINUING TO COME DOWN ON A BUMPY PATH **ONE OR TWO BAD DATA MONTHS ON INFLATION WON'T CHANGE THE PROCESS **NO NEED TO BE IN A HURRY TO GET THERE post: Powell: This isn't a tight economy. A lot of the inflation we've seen this year has been catch-up inflation. post: Powell: "The right way to find neutral is carefully, patiently." He says the Fed is prepared to adjust its assessments of the appropriate pace and destination for rates as the outlook evolves. post: POWELL: **SO FAR NOT BIG EFFECTS ON US ECONOMY, BUT GEOPOLITICAL RISKS ARE ON THE HORIZON ALL THE TIME **PEOPLE FEEL NEXT YEAR COULD EVEN BE STRONG THAN THIS YEAR post: *POWELL: NOT PERMITTED UNDER THE LAW TO FIRE FED CHAIR
post: ED'S POWELL Q&A: FOR DECEMBER FOMC, GOING TO 'WAIT AND SEE' WHERE DATA LANDS #Powell #FOMC #FederalReserve #economy post: Powell: The statement changes weren't designed to serve as forward guidance. Removing language about "greater confidence" on inflation is characterized as a drafting step; it got rid of something that had been used to explain that the test for cutting, in Sept, had been met https://t.co/2V61v0KKVv post: POWELL: **IF NEW FISCAL POLICY IS PROPOSED, WE WOULD MODEL IT, STAFF WOULD BRIEF US, TRY TO GET SMART ON IT **ONCE A LAW IS CHANGED IT WOULD GO INTO THE MODEL, IT'S A PROCESS THAT TAKES SOME TIME post: *POWELL: DON'T NEED FURTHER LABOR COOLING FOR INFLATION MANDATE *POWELL: LABOR MARKET IS CONTINUING TO COOL post: *POWELL: AS WE APPROACH NEUTRAL, MAY BE APPROPRIATE TO SLOW CUTS
post: Powell: "In the near term the election will have no effects on our policy decisions." "We don't guess, we don't speculate, we don't assume" what policies will get put into place. post: POWELL: POLICY STANCE WILL MOVE TOWARD NEUTRAL STANCE OVER TIME || NOT ON PRESET COURSE post: POWELL: BOND RATES REFLECTING GROWTH EXPECTATIONS post: FED'S POWELL: THE OVERALL TAKE AWAY IS A SENSE THAT DOWNSIDE RISKS OF ACTIVITY HAVE BEEN DIMINISHED. post: *POWELL: INFLATION DATA WASN'T TERRIBLE BUT HIGHER THAN EXPECTED
post: POWELL: ECONOMY IS STRONG post: POWELL: INFLATION HAS EASED SUBSTANTIALLY post: FED'S POWELL: THE LABOR MARKET REMAINS SOLID. post: POWELL: LABOR MARKET NOT A SOURCE OF INFLATION PRESSURE post: *POWELL: FED WILL CONTINUE TO MAKE DECISIONS MEETING BY MEETING
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest.
Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee’s 2 percent objective but remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to suppo post: FED STATEMENT COMPARE pic.twitter.com/uP0UJGndiT post: FED: VOTE IN FAVOR OF POLICY WAS UNANIMOUS post: *FED REMOVES REFERENCE TO GAINING CONFIDENCE ON INFLATION post: *FED: LABOR MARKET CONDITIONS HAVE ‘GENERALLY EASED’
Released on Nov 7, 2024 |
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