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Fed’s Powell: We Are Not Yet at a Sufficiently Restrictive Level on Rates
Fed’s Powell:
— *seven (@sevenloI) February 1, 2023
- Our Focus is on Sustained Changes to Broader Financial Conditions
- We Are Not Yet at a Sufficiently Restrictive Level on Rates
- We Will Take Into Account Financial Conditions and Other Conditions as We Set Policy
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Fed’s Powell:
— *seven (@sevenloI) February 1, 2023
- It is a Good Thing That Disinflation So Far Has Not Come at Expense of Labor Market
- But This Disinflationary Process is in Early Stages
- In Housing Services, We Expect Inflation to Continue Moving Up but Then Moving Down as New Leases Come in Lower
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Fed’s Powell:
— *seven (@sevenloI) February 1, 2023
- But in Core Services Ex Housing We Don't See Disinflation Yet
- It is Gratifying to See Disinflationary Process Getting Under Way and Still Strong Labor Market Data
- ECI and Avg Hourly Earnings Off of Highs, Still Fairly Elevated
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FED'S POWELL: ECI AND AVERAGE HOURLY EARNINGS ARE DOWN FROM HIGHS BUT REMAIN FAIRLY ELEVATED.
— Breaking Market News (@financialjuice) February 1, 2023
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Fed’s Powell:
— *seven (@sevenloI) February 1, 2023
- Job Openings Numbers From JOLTS Report Has Been Quite Volatile Recently
- JOLTS Number Is 'Probably An Important Indicator'
- We See Wages Moving Down
- By Many Many Indicators Job Market is Still Very Strong