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From cityindex.com|2 hr 15 min ago|3 commentsToday’s Fed meeting was always going to be more about what Jerome Powell and Company were saying rather than about what they were doing… …After all, the market had fully priced in a 25bps interest rate hike to the 4.50-4.75% range, and that’s exactly what Jerome Powell and company delivered. Quickly turning our attention to the statement though, there was ...
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From @sevenloI|3 hr agotweet at 2:34pm: Fed’s Powell: - Labor Demand Substantially Exceeds Supply - Inflaiton 'Remains Well Above Our Longer-Run Goal' -Inflation Data Over Past 3 Months Show Welcome Reduction in Pace of Increases - Will Need Substantially More Evidence to Be Confident Inflation on Downward Path tweet at 2:35pm: Fed’s Powell: - Longer-term Inflation Expectations Remain Well Anchored - But That's Not Grounds for Complacency - Acutely Aware That High Inflation Imposes Hardships - We Are Highly Attentive of Risks Inflation Poses to Both Sides of Our Mandate tweet at 2:36pm: Fed's Powell: - 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 tweet at 2:37pm: Fed’s Powell: - 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 tweet at 2:38pm: Fed’s Powell: - We Will Stay the Course Until Job is Done - We Will Do Everything We Can to Achieve Goals - Is Important Financial Conditions Continue to Reflect the Policy Restraint We've Put in Place - Our Focus is Not on Short-term Moves in Financial Conditions
