Federal Reserve Chair Jerome Powell said on Tuesday the latest U.S. employment report showed the process for getting inflation back near the central bank's 2% target will take 'quite a bit of time' even though there are indications cost pressures are ebbing, at least for goods.
Powell's remarks offered some indication of how he and other policymakers have begun to take stock of an unexpectedly strong jobs market that they had been expecting to weaken as the Fed's rate hikes slow the economy in order to take the wind out of inflation. He was not the first to express surprise at January's level of job creation.
Kashkari, who has been more aggressive than almost all his colleagues in his assessment of how high interest rates need to go, had said a month ago that he forecast the central bank's policy rate should rise to 5.4%. The jobs report consolidated that view. After last week's policy meeting, when the Fed lifted its policy rate by a quarter of a percentage point to the 4.50%-4.75% range, Powell in his repeated references to welcome signs of emerging "disinflation" left investors with the impression he might be open to stopping short on the December rate forecast.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
LIVE: Federal Reserve Chair Jerome Powell delivers remarks on US economyJerome Powell, chair of the Board of Governors of the Federal Reserve System, is set to discuss the current state of the U.S. economy at 12:30 p.m. Tuesday.
Weiterlesen »
Treasury yields mixed ahead of remarks by Fed's PowellTreasury yields are mixed as investors look await remarks by Federal Reserve Chair Jerome Powell
Weiterlesen »
Fed's Powell says blowout jobs report shows inflation fight has a ways to goAdditional interest rate hikes are on the table in coming months as inflation still remains too high, according to Federal Reserve Chairman Jerome Powell.
Weiterlesen »
Fed’s Jerome Powell Says Hiring Surge Shows Why Inflation Fight Could Be DifficultFederal Reserve Chair Jerome Powell said the labor market’s surprising strength means it could take “a significant period of time” to lower inflation
Weiterlesen »
NZD/USD stays defensive above 0.6300 amid New Zealand holiday, Fed’s Powell eyedNZD/USD remains depressed as it flirts with a short-term key support around 0.6300 during early Monday in Asia, following a downside gap to begin the
Weiterlesen »
Stock futures are flat as investors await Fed Chair Powell's speechInvestors will listen closely to Federal Reserve Chairman Jerome Powell's speech on Tuesday, searching for clues on what's next for monetary policy.
Weiterlesen »