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- Powell speech: Demand is still very hot and we would like to see it moderating
Powell speech: Demand is still very hot and we would like to see it moderating
Fed Chair Jerome Powell on Wednesday said in the post-Fed meeting press conference that demand in the US economy is still very hot and the Fed would like to see this moderate, reported Reuters.
Additional Remarks:
- "We'd like to see labor market in better balance."
- "The neutral rate is pretty low these days."
- "We are not going to be model driven."
- "The data shows that inflation expectations are still in place where short-term inflation is high but comes down sharply over the medium term."
- "Last week's University of Michigan inflation reading was quite eye-catching."
- "We also noticed the Fed's inflation expectations have moved up."
- "We felt we had to take that seriously."
- "Inflation expectations were a factor in today's decision."
- "We will react to incoming data."
- "We don't know how restrictive we need to be."
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