Summary
- Jerome Powell stated that the U.S. economy is robust and there is no expected likelihood of a recession.
- It is projected that it may take 1 to 2 more years to reach the inflation target.
- The Federal Reserve emphasized confidence that inflation will reach 2%.
Jerome Powell, the Chair of the Federal Reserve, stated at a press conference following the FOMC on the 18th (local time) that "many analysts predicted a slowdown in U.S. growth, but that is not the case. The current U.S. economy is very robust and achieving numerous accomplishments," adding, "there is no reason to expect the likelihood of a recession to increase."
He continued, "It may take an additional 1 to 2 years to achieve the 2% inflation target," emphasizing, "we are still confident that inflation will reach 2%."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
