BREAKING: FED Chairman Jerome Powell is Speaking – Here Are All His Remarks

FED Chairman Jerome Powell gives a speech on the US and Canadian economy at the Washington Forum in Washington DC, moderated by Bank of Canada Governor Tiff Macklem.

In a market where US inflation pressures have flared up again and interest rate cuts are rumored to be postponed, the FED President said the following in his statements:

The US’s performance was “fairly strong”.
Latest data show no further progress on inflation this year.
Twelve-month core inflation was little changed in March compared to forecasts.
While the Fed took a cautious approach to avoid overreacting to last year’s declines, recent data did not inspire further confidence.
More time is needed for the restrictive policy to work.
If high inflation continues, the Fed can maintain the current interest rate for as long as necessary.
It will likely take longer to build confidence about inflation

This article will be updated as Jerome Powell’s speech continues.

*This is not investment advice.

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