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Powell: Semiannual Monetary Policy Report to the Congress
Chairwoman Waters, Ranking Member McHenry, and other members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report. Before I begin, let me briefly address Russia's attack on Ukraine. The conflict is causing tremendous hardship for the Ukrainian people. The implications for the U.S. economy are highly uncertain, and we will be monitoring the situation closely. At the Federal Reserve, we are strongly committed to achieving the monetary policy goals that Congress has given us: maximum employment and price stability. We pursue these goals based solely on data and objective ... (full story)
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*Powell: Wages Are Rising at 'Fastest Pace in Many Years'
— *Walter Bloomberg (@DeItaone) March 2, 2022
*Powell: Price Increases Are Spreading to a Broader Range of Goods, Services
*Powell: Fed Expects Inflation to Diminish This Year
*Powell: Fed Is Attentive to Risks of Higher Inflation
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Powell says Ukraine impact on US economy is "highly uncertain"
— Newsquawk (@Newsquawk) March 2, 2022
- Still calls for March liftoff
- No mentioning of hike increment
- reiterates calls for B/S reduction after liftoff
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#FED POWELL: WE EXPECT RATE HIKE IN MARCH WILL BE APPROPRIATE - BBG
— Christophe Barraud (@C_Barraud) March 2, 2022
*POWELL: REMOVING ACCOMMODATION INVOLVES RATES AND BALANCE SHEET
*POWELL: BAL. SHEET SHRINK TO BE PREDICTABLE, MAINLY VIA RUNOFF