Bloomberg Surveillance
Instant Reaction: Jay Powell Speaks
Mar 29, 2024
Wells Fargo Senior Economist Sarah House joins to discuss Chair Powell's cautious stance on rate cuts, market expectations, Fed transparency, and inflation data. Topics include Fed policy attention, market reactions, and challenges in decision-making.
15:45
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Quick takeaways
- Fed Chair Powell stresses caution in interest rate cuts tied to inflation progress.
- Economic data such as Core PCE influences Fed's monetary policy decisions and market expectations.
Deep dives
Federal Reserve's Approach to Interest Rates
Chairman Powell from the Federal Reserve highlighted the Fed's cautious approach towards cutting interest rates during the Macroeconomics and Monetary Policy Conference. He emphasized the importance of waiting for clear progress towards the 2% inflation target before considering rate cuts. Powell reiterated the Fed's focus on staying patient and not being in a hurry to cut rates unless confident about inflation trends, emphasizing transparency and stability in monetary policy decisions.
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