Bloomberg Surveillance
Instant Reaction: Jay Powell on Fed Policy
May 1, 2024
Guest Jay Powell, Federal Reserve Chair, discusses recent Fed policies, challenges in the labor economy, inflation concerns, and the Federal Reserve's cautious stance on rate hikes. The podcast analyzes the impact of services inflation, balance sheet adjustments, and the potential implications of a strong labor market report on market reactions and the Federal Reserve's policy decisions.
26:38
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Quick takeaways
- Fed Chair Powell highlighted slowing demand in labor market and dismissed rate hikes, leading to positive equity market response.
- Fed maintains confidence in restrictions, holding off on rate cuts with focus on labor market conditions and disinflationary expectations.
Deep dives
Federal Reserve Outlook After News Conference
The Federal Reserve Chair expressed a dovish stance post-news conference, indicating policy is still seen as restrictive. The chair highlighted the slowing demand in the labor market and dismissed the idea of rate hikes. This dovish tone led to a positive equity market reaction with implications for stocks outperforming bonds.
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