Powell says economic risks converts to Jackson Hole’s speech as you have eyes
Federal Reserve Chairs Jerome Powell in the Jackson Hole Symomposium source affected by labor market, the impact of prices and economic situations. (Credit: Kansas City Fed)
Chairman of Supervisory Supply Jerome Powell On Friday said “the risk of risks seem to change” US economy, as many of the labor market and inflation and inflation.
Powell spoke at a Msas City Policy Conference at Jackson Hole, Wyoming, what was expected to be his last address as presented by the Chair. The event comes following the infilation print series showing the best buyers from 2% of the 2% of the target, and the July reporting report that included a significant review from May and June.
This page Federal Reserve The chairman said that the lower risks of the labor market appears as the economic growth in the first part of the consumer, but I was added to the risk of increased high inflation, whether expected high inflation.
“While labor market appears in the marketplace, it is a curious form of balance caused by a decreased decrease in all the service delivery,” said Powell. “This unusual situation indicates that the lower rental risk comes up, and if those dangers include bodies, they can act as soon as the highest and unemployment.”
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The Federal Resavoe Jeroma Powell chairs said “Risk estate seems to change” in his jackson hole. (Chip Somodevilla / Getty / Getty Photos)
“The Effects of tax prices At the buyers of consumers are now visible. We expect those results to accumulate for the coming months, uncertainty with regard to time and prices. The most important question in the financial policy is whether the company goes materially suggests the risk of a continuous inflation problem, “said Powell.
“The right base case is that the results will last for a while, one shift in the price.
“It is also possible, however, that a higher pressure in previous countries may be higher Inflammable inflammationAnd that is dangerous to be tested and managed. ”
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Powell said the risk of the price of the price of employees requesting and receiving higher wages to remove the impact of the higher rates from local budgets. Labor market conditions. He also added that inflation expectation is “properly installed and complementary for our 2% long prices for 2%.
“It is true, we cannot allow the intensity of the inflation.
“So it includes pieces, what are the financial consequences of the financial policy? In the nearest inflation, our condition wants us to balance our two owocity,” he said.
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Powell noted that after the Benchmark Federal Federal Marketment Committee finally 100 times, the Fed has a neutral market and indicating signs based on certain metrics based on other metrics.
“Our policy level is now 100 points near Neutrality than at the beginning of the past year, and the stiffness of Unemployment level And some staff market steps allow us to continue careful as we reflect on changes in our policy condition, “he explained.” However, with the risk assessments, the fundamental balance of the accident can ensure the reformation of our policy. “
“Financial goal is not at a reported event. The Fomc members will make these decisions only to act on the evaluation and its effects of the economic vision and the risk of risks.”
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The Fed Mberome Powell addresses the Canadian Emperor Tiff Macklem and Emperor and Rew Bailey during the 2024 Jackson Hole Jackson Conference. (Natalie Biving / Bloomberg with Getty / Getty Pictures)
The stock market is compiled in response to Powell’s speech, with major indicators on top of 1% as expected of the interest rate in September.
“Human market weaknesses seem to be at risk of inflation, and the first markets speak,” said Ellen Zenten, the Morgan Stanley economic wisdom. “For a long time, the debate for the fact that the Fed will add and soon the FED will start pricing.
Sinina Shah, a high-quality landsman, said the Powell’s speech “was clearly decreased, and her words show that 25 points were working, but 50 points were not.”
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“Indeed, when the setback case is right, there is a small amount of fixed economy for 50th-level foundation, this can reveal the longest conditions,” said Shah.
Future markets show the issues of 25 points cut Valid Emphasis Following Powell’s speech, increases from 75% yesterday to 89.2% after Powell’s speaking, according to the CME Folkatch Tool. Odds Values ​​live in the current 4.25% in 4,5% of them from 25% Yesterday has been 10,8% after the talk, when 50 points of cutting over 50 points live in zero.
