Federal Reserve Chairman Jerome Powell delivers a speech on monetary policy to business leaders in the Dallas-Forth Worth area. Powell’s speech will be followed by a question-and-answer session.
Here are the most important sections from Powell’s speech:
(New additions will be made as the conversation continues, you can access the most up-to-date information by refreshing the page)
- The economy is not sending signals that the Fed should be in a hurry to cut interest rates.
- Policy will gradually adjust to a neutral level, but the policy path is not predetermined.
- Inflation is expected to continue to fall towards the 2% target, but there may be a “fluctuating” course during this process.
- The Fed is determined to complete its mission of controlling inflation.
- A strong economy allows the Fed to make prudent decisions.
- The labor market is robust and inflation is moving toward a sustainable 2% path.
- The US economy has performed very well recently.
- The labor market has cooled enough that it no longer creates significant inflationary pressure.
- The Fed will be watching inflation data closely as it compares to its forecasts.
The comments come a week after policymakers decided to cut the key interest rate by another quarter point, or 25 basis points. That followed a half-point cut in September, leaving the federal funds rate in the 4.5%-4.75% range.
*This is not investment advice.
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