Summary
- Chairman Powell emphasized that monetary policy is more accommodative than initially.
- He stated that he will closely monitor the conditions of inflation and the labor market for further rate cuts.
- All interest rate decisions will be based on market data.
Jerome Powell, Chairman of the Federal Reserve, stated at a press conference following the FOMC on the 29th (local time) that "monetary policy is more accommodative than when we first started working," and "we are focusing on substantial progress in inflation or weakness in the labor market before further rate cuts."
He continued, "We will patiently observe and analyze market conditions," and "all decisions depend on the data."
Additionally, he added, "The Fed is an independent agency that only performs its given tasks," and "there is no need to worry much about the Fed's independence."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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