Here are 5 key takeaways from Fed Chairman Jerome Powell's press conference on Wednesday.
The Fed left its policy rate unchanged on Wednesday but surprised economists by forecasting 50 basis points in additional interest-rate hikes this year. That would bring the Fed’s benchmark rate up to a range of 5.5% to 5.75%.
Fed Chairman Jerome Powell said the decision to leave rates steady was a continuation of the process of slowing down policy moves after aggressive hikes last summer and fall. To do this, Powell stressed that most Fed officials think more needs to be done and they are not happy with inflation.Josh Shapiro, chief U.S. economist for MFR Inc., said it was the hawkish pause that everyone expected and that the 50-basis-point hike was a “sop to the hawks.”
Ryan Sweet, chief U.S. economist at Oxford Economics, said he was skeptical that the Fed would resume hiking at all. No decision on moving at every other meeting Powell went out of his way not to establish expectations that the Fed would tighten by 25 basis points at every other meeting. He said that pace was not discussed.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
WATCH LIVE: Federal Reserve Chair Jerome Powell holds a press conference | Fox Business VideoThe chairman discusses the U.S. central bank's decision on interest rates and its fight against inflation.
Weiterlesen »
WATCH LIVE: Jerome Powell holds press briefing on Fed interest rate decisionFederal Reserve Chairman Jerome Powell is holding a press conference to brief the public on the Fed's decision regarding interest rates.
Weiterlesen »
Fed pauses interest rate hikes for the first time in 15 monthsFederal Reserve says it will not raise interest rates this month, making it the first time the Fed has decided to leave interest rates unchanged in 15 months.
Weiterlesen »
Fed Chair Powell may try his best to make a July hike seem likely – CommerzbankUlrich Leuchtmann, Head of FX and Commodity Research, analyzes USD outlook ahead of FOMC. Currency market should not overlook the obvious contradictio
Weiterlesen »
Bitcoin stays flat at $26K after PPL data as markets await Fed’s PowellBitcoin traders hope Fed Chair Powell will be able to induce some BTC price volatility.
Weiterlesen »
Fed Chair Powell sees progress on inflation, though not quickly enoughInflation may be cooling — just not yet fast enough for the Federal Reserve
Weiterlesen »