The following summary represents direct quotes (with minor immaterial changes to make reading easier) from the press conference. A. Backdrop The U.S. economy is in good shape. It's growing at a solid pace, inflation is coming down, the labor market is in a strong...
Summary: Recent indicators suggest that growth of economic activity continued to expand at a solid pace. (No Change) Job gains have slowed and the unemployment rate has moved up but remains low. (Change) Inflation has made further progress towards the 2 percent...
This is a summary of Chairman Jerome Powell’s August 23, 2024, speech at the annual economic symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming. CURRENT STATUS DUAL MANDATE The Federal Open Market Committee's (FOMC) objective has...
Summary: Recent indicators suggest that growth of economic activity continued to expand at a solid pace. (No Change) Job gains have moderated and the unemployment rate has moved up but remains low. (Change) Inflation has eased over the past year but remains somewhat...
SUMMARY The FOMC sees the economy is neither overheating or sharply weakening. The labor market continues to normalize. The FOMC remains data dependent and focused on the risk of cutting rates too early or too late. Some of the Committee members examined the...
Squarely focused on achieving our dual mandate goals of maximum employment and stable prices for the benefit of the American people. (affirming commitment) Inflation has eased notably over the past two years but remains above the longer-run goal of 2 percent. Total...
Summary: Recent indicators suggest that growth of economic activity continued to expand at a solid pace. (No Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Inflation has eased over the past...
Summary Monetary policy has kept financing conditions restrictive. By dampening demand and keeping inflation expectations well anchored, this has made a major contribution to bringing inflation back down. (new) Since the Governing Council meeting in September 2023,...
Summary: Recent indicators suggest that growth of economic activity continued to expand at a solid pace. (No Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Inflation has eased over the past...
Summary Inflation is still too high, ongoing progress in bringing it down is not assured, and the path forward is uncertain. We are fully committed to returning inflation to our 2 percent goal (commitment and credibility). Our restrictive stance of monetary policy has...
Highlights of Jerome Powell's Speech at Stanford Over the past year, inflation has come down significantly, and growth in economic activity and employment was strong. Labor supply increased significantly, thanks to rising participation among 25-to-54-year-olds, as...
Summary Inflation is still too high, ongoing progress in bringing it down is not assured, and the path forward is uncertain. We are fully committed to returning inflation to our 2 percent goal (commitment and credibility). Nominal wage growth has been easing, and job...
Summary: Recent indicators suggest that growth of economic activity has been expanding at a solid pace. (Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Job gains have moderated since earlier in...
Summary Since the last Governing Council meeting in January, inflation has declined further. In the latest ECB staff projections, inflation has been revised down, in particular for 2024 which mainly reflects a lower contribution from energy prices. Staff now project...
Summary Inflation has eased notably over the past year but remains above the longer-run goal of 2 percent. Inflation is still too high; ongoing progress in bringing it down is not assured, and the path forward is uncertain. Longer term inflation expectations appear to...
Summary: Recent indicators suggest that growth of economic activity has been expanding at a solid pace. (Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Job gains have moderated since earlier in...
Summary The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50%, 4.75% and 4.00% respectively. (No Change) The past interest rate increases keep being...
Summary: Recent indicators suggest that growth of economic activity has slowed from a strong solid pace in the third quarter. (Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Job gains have...
Summary Inflation has eased from its highs, and this has come without a significant increase in unemployment. That is very good news. (dual mandate commitment) But inflation is still too high, ongoing progress in bringing it down is not assured, and the path forward...
Highlights of Jerome Powell’s Fireside Chat at Spelman College