- Fed's Chairman Powell: We will act as appropriate to sustain the expansion, with a strong labor market and inflation near its 2 percent objective
Market news
23 August 2019
Fed's Chairman Powell: We will act as appropriate to sustain the expansion, with a strong labor market and inflation near its 2 percent objective
- Fed is working to sustain favourable economic conditions in the face of significant risks
- Does not repeat mid-cycle adjustment
- U.S. economy is close to both of Fed's goals
- Our challenge now is to do what monetary policy can do to sustain the expansion
- We are carefully watching developments as we assess their implications for the U.S. outlook and the path of monetary policy
- Says three weeks since FOMC latest meeting were eventful
- Slowing global growth, trade policy uncertainty, muted inflation weigh on favorable outlook
- Inflation is moving up towards 2%
- U.S. job market is historically strong
- Low inflation seems to be the problem of this era, not high inflation
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