Summary
- Chair Jerome Powell said he views the current monetary policy stance as "appropriate."
- Powell said inflation is lower than before but has not yet reached the target level.
- He said the removal of the phrase "downside risks to employment have increased" from the FOMC statement was because some signals of employment stability have been confirmed.
Federal Reserve Chair Jerome Powell on the 28th (local time) said the current monetary policy stance is "appropriate."
Speaking at a press conference following the Federal Open Market Committee (FOMC) meeting that day, Powell said, "The Fed has two goals, and while inflation is lower than before, it has not yet reached the target level."
Powell explained that the phrase "downside risks to employment have increased" was removed from this FOMC statement because "some signs of stability in employment have been confirmed." He added, however, that he "does not want to overinterpret those signals."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
