".. Powell was given a golden opportunity on Wednesday .. to jawbone markets back into their place .. Not only did he take a pass, but he implicitly seemed to give the bulls the all-clear."
@opinion@JonathanJLevin@SaraEisen#Sintra#FOMC
https://t.co/U8qtu6qJw6
The S&P 500 and the Dow closed lower after US Federal Reserve Chair Jerome Powell signaled more rate hikes. He also said he did not see inflation falling to the central bank's target rate ‘this year or next year’ https://t.co/yoD1IEAfNd
Here are the key takeaways from a panel featuring Fed Chair Jerome Powell, ECB President Christine Lagarde, BOE Governor Andrew Bailey and BOJ Governor Kazuo Ueda https://t.co/Wl1Pz7GFH2
Bank of Japan Gov. Kazuo Ueda suggested it’s possible to start normalizing monetary policy if the BOJ became confident in a pick-up in inflation for next year. https://t.co/zqUvQih4qK
Bank of Japan Governor Kazuo Ueda said that a weak pace of underlying inflation is reason enough for monetary policy to stay ultra loose even as the rest of the world tightens aggressively https://t.co/b4Ywy2iNl7.
Andrew Bailey said the tight jobs market - with near-record low unemployment, more than a million jobs vacancies and wage growth of 7.2% - was the reason the UK inflation rate is higher than both the US and Eurozone https://t.co/GW5ESkGLYv
"I feel quite old when I get to this"
Bank of England Governor Andrew Bailey admits central banks are "on a learning curve" when it comes to "the potential" of AI https://t.co/Iq9OCFGdKR
Powell: Inflation isn't coming down as swiftly as anticipated, but it will take time for service-sector inflation to move lower.
"The bottom line is that policy hasn’t been restrictive enough for long enough to see those effects."
"I don't see us getting back to 2%, this year or next year."
Fed Chair Powell said he can see core inflation getting back down to 2% in 2025, but not earlier than that https://t.co/fttCMmy3bm
"Although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough," Fed Chair Powell says. https://t.co/7UmDcUN16K
.@federalreserve Chair Powell: There's a significant probability that there will be a downturn as well though, but isn't up to me the most likely case.
@SaraEisen: That's the hard landing scenario?
Powell: I wasn't even thinking of hard landing. I was thinking of even recession.
At the ECB Forum on Central Banking in Sintra, Portugal, @SaraEisen notes Federal Reserve Chair Jerome Powell isn't calling it a "pause" or a "skip."
"What are you calling it?" she asks.
Powell's reply: "Maintaining the federal funds rate at its current level for this meeting."
Federal Reserve Chair Jerome Powell says there is a significant chance of a recession in the US but it is not the most likely case during a panel discussion at the ECB Forum on Central Banking in Sintra, Portugal https://t.co/Am5Kl9wxor
Inflation is proving to be persistent. We have to be resolute, decided and determined in getting it back to our target of 2%.
This was my message during the policy panel discussion at our Sintra forum. Here’s the link if you missed it https://t.co/jH4kqTlx2v