Chair Powell: "Inflation is somewhat above the target"

JH Kim

Summary

Jerome Powell, Chair of the Fed, stated that inflation remains somewhat above the target.
He mentioned that, considering various indicators, economic growth has somewhat slowed.
He reported that the June Personal Consumption Expenditures (PCE) index is expected to grow by 2.7% year on year.

According to CNBC on the 30th (local time), Jerome Powell, Chair of the Federal Reserve System (Fed), said, "Economic conditions are solid, but inflation remains somewhat above the Fed's target," and added, "Various indicators confirm that economic growth has somewhat slowed down."

He continued, "The June Personal Consumption Expenditures (PCE) index is expected to increase by 2.7% compared to the same period last year," and "Due to the impact of tariffs, some product prices have risen," he added.

JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.

Chair Powell: "Inflation is somewhat above the target"

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