Comments from Powell at the Economic Club of New York No pre-set policy path Impact of hikes uncertain, may take a year or more to see Gradual pace meant to balance risks of too fast or slow Interest rates still low by historical standards Gradual hikes balance risks to forecast Great deal to like about US economic outlook Expects solid US growth, low employment and near-target inflation Paying 'very close attention' to data Concerned about leveraged corporate borrowing, which could exacerbate economic downturn No dangerous excesses in stock market
1759 per guardare lo speech di powell in diretta ecco un link Deus_ex_machina | 28 nov : 18:07
"While FOMC participants' projections are based on our best assessments of the outlook, there is no preset policy path. We will be paying very close attention to what incoming economic and financial data are telling us."
Other key line:
"We therefore began to raise our policy rate gradually toward levels that are more normal in a healthy economy. Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy‑‑that is, neither speeding up nor slowing down growth."
As you can see in the market, this is dovish. Definitely more dovish than I expected.
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