Powell: Fed Will Focus on Economy Not Politics When Setting Interest Rates

Fed’s Powell: In Housing, There's A Longer-run Shortage That Fed Cannot Affect - Absolute Best Thing We Can Do For Housing Is To Restore Price Stability Fed's Powell: Rental inflation is now coming down quite regularly. FED'S POWELL Q&A: CONCERNED ABOUT TRAJECTORY OF CUTBACKS ON RESOURCES OF STATISTICAL AGENCIES LIKE BLS; SEEN 'MILD DEGREDATION' SO FAR IN GOVT DATA #Powell #FederalReserve #economy Fed's Powell: We expect tariff inflation to show up more, but we don't know how much will be passed to consumers. Powell Says Current Rates Are High With Much More Room to Cut Than When Rates Were Near Zero.

BOE Governor Bailey States That Current Policy Is Tight and Limiting BoE Gov. Bailey: The path for rates is downward. BoE Gov. Bailey: UK's underlying growth not as strong as Q1 GDP reading. BoE Gov. Bailey: The UK's high savings ratio should change at some point. BoE Gov. Bailey: QT review will be interesting this year, because of the steepening of the yield curve.

POWELL: US NOT IN RECESSION POWELL: MANY PATHS ARE POSSIBLE POWELL: COULD SEE INFLATION COME IN NOT AS STRONG AS EXPECT POWELL: IF THAT'S THE CASE THAT WOULD SUGGEST CUTTING SOONER POWELL: ALSO WEAKNING LABOR MARKET WOULD SUGGEST CUTTING SOONER POWELL: IF INFLATION, LABOR MARKET STRONG, COULD CUT LATER POWELL: FED PROJECTIONS ARE FOR INFLATION TO MOVE UP BECAUSE OF TARIFFS Fed's Powell: The significant majority of policymakers feels it will be appropriate to reduce rates later this year. The story has been evolving, and our thinking has been adapting. Fed’s Powell: Reason We Are Not Cutting Rates Is That Forecasts In And Out Of Fed Expect Meaningful Increase In Inflation This Year - Existing Data Make Good Argument For Rates At Neutral

Fed's Powell: I think we'll see tariff inflation in the June and July numbers. Fed's Powell: If it turns out inflation pressures are contained, we will get to a place where we cut rates. FED'S POWELL Q&A: CAN'T SAY WHETHER JULY MEETING COULD LIKELY CUT RATES; HAVE TO SEE HOW INFLATION AND JOBS DATA PROGRESS #Powell #FederalReserve #economy Q to Powell: Taylor rules say you should be looking through this. Powell: That's right. Q: So why aren't you cutting rates? Powell: Taylor rules say we're right where we should be. And one of them shows rates should actually be higher.