Good afternoon. My colleagues and i are strongly committed to bringing inflation back down and we are moving expeditiously to do so. We have both the tools that we need and the result it will take to restore price stability on behalf of American Families and businesses. The economy and country have been through a lot in the past two and a half years. It is important we bring inflation down to our 2 goal if we will have a sustained period of strong labor Market Conditions that benefit all. From the standpoint of oracle personal mandate to promote maximum employment and price stability, the picture is plain to see. The labor market is extremely tight, and inflation is much too high. Against this backdrop, today the fomc raised its policy Interest Rate by three quarters of a percent, and anticipates that ongoing increases in the target range for the federal funds rate will be appropriate. In addition, we are continuing the process of significantly reducing the size of our Balance Sheet, a
Increase of three quarters of a percentage point to combat inflation. The fed anticipates additional rate increases in the future. This is just under an hour. Toad reporters he doesnt think the u. S. Economy is in recession. He announced an Interest Rate increase of 0. 75 to combat inflation. The Federal Reserve anticipates additional rate increases in the future. This is just under one hour. Good afternoon. My colleagues and i are strongly committed to bringing inflation back down and we are moving expeditiously to do so. We have both the tools that we need and the result it will take to restore price stability on behalf of American Families and businesses. The economy and country have been through a lot in the past two and a half years. It is important we bring inflation down to our 2 goal if we will have a sustained period of strong labor Market Conditions that benefit all. From the standpoint of oracle personal mandate to promote maximum employment and price stability, the picture
Federal reserve chairman Jerome Powell toad reporters he doesnt think the u. S. Economy is in recession. He announced an Interest Rate increase of 0. 75 to combat inflation. The Federal Reserve anticipates additional rate increases in the future. This is just under one hour. Good afternoon. My colleagues and i are strongly committed to bringing inflation back down and we are moving expeditiously to do so. We have both the tools that we need and the result it will take to restore price stability on behalf of American Families and businesses. The economy and country have been through a lot in the past two and a half years. It is important we bring inflation down to our 2 goal if we will have a sustained period of strong labor Market Conditions that benefit all. From the standpoint of oracle personal mandate to promote maximum employment and price stability, the picture is plain to see. The labor market is extremely tight, and inflation is much too high. Against this backdrop, today the f
Exacerbating supply chain issues because of lockdowns. The fed will continue to run off its Balance Sheet as planned that pace starting in september will be 60 billion in treasurys and 17. 5 billion in mortgagebacked securities. That continues to the statement, goes on to say the fed will adjust monetary stance based on eve merging risks. This was a unanimous statement, includes votes 3 00 new members, full board, lisa cook, michael barr. The fed raising rates 75 basis points as expected but saying recent indicators show that spending and production have slowed, have softened is the word they used. Charles, back to you. Charles a lot of interesting juicy stuff. Edward, thank you very much my friend. The fed has made the hike expected. The street has to deal with the guessing game. You heard what edward said. New words, some taken out. Maybe well learn some more in the question and answer period that is very important, more so today. This is a very serious dilemma, folks, twin evils of