Chair Powell: "Today's Policy Stance More Flexible Than Before... Approaching Inflation Target"
JH Kim
Summary
- Jerome Powell stated that today's policy stance of the Federal Reserve is less restrictive than before.
- Powell mentioned that inflation is nearing the target and economic activity is expanding robustly.
- The Federal Reserve predicts that the U.S. GDP growth rate will be around the mid-2% range over the next few years.
Jerome Powell, the Chair of the Federal Reserve, stated at a press conference following the FOMC on the 18th (local time) that "the medium to long-term interest rate direction is proceeding in the direction the Federal Reserve desires," and that "today's policy stance of the Federal Reserve is much less restrictive than before."
He continued, "Inflation is close to the target of 2%, and consumer spending remains resilient," adding that "economic activity is expanding at a solid pace."
Furthermore, he noted, "The U.S. economy is generally showing positive performance," and "Federal Reserve members predict that the U.S. GDP growth rate will be around the mid-2% range over the next few years."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
