It is an implicit signal to continue raising interest rates for at least the next month (something that the markets took into account) with the possibility of fixing interest rates until the middle and perhaps next year. This policy especially with the onset of stabilization of inflation.
I saw that some focused on his statements about Bitcoin, but I do not see any value in them.
Topic: Federal Reserve Chairman Speech In Jackson Hole Watch Party! (Read 132 times)
Conclusion of Powell's speech at the Jackson Hole symposium:
As is often the case, we are navigating by the stars under cloudy skies. In such circumstances, risk-management considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks. Based on this assessment, we will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data.
Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all.
We will keep at it until the job is done.
Quote
As is often the case, we are navigating by the stars under cloudy skies. In such circumstances, risk-management considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks. Based on this assessment, we will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data.
Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all.
We will keep at it until the job is done.
He also said that, "they will asses their progress based on the totality of the data". That could be translate into = "We're not in control, Inflation is".
Plus truly, the Federal Reserve's original mandate is not "dual", it's just for price stability. Employment is merely secondary, and if "the data" shows that they need to raise rates higher, they would do it even if killing the labor market would get their job in controlling inflation done.
Conclusion of Powell's speech at the Jackson Hole symposium:
Quote
As is often the case, we are navigating by the stars under cloudy skies. In such circumstances, risk-management considerations are critical. At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks. Based on this assessment, we will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data.
Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all.
We will keep at it until the job is done.
Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all.
We will keep at it until the job is done.
The speech was short, it ended in about 15 minutes.
Jerome Powell didn't say anything with conviction. He merely said that some sectors of the economy had sticky inflation that might require more rate hikes to control, and other sectors were already showing stability. His final statements were neither bullish nor bearish, and he concluded his speech with, "We are going to react depending on the data we gather". - Who's in control in this situation? The Federal Reserve or Inflation?
Jerome Powell didn't say anything with conviction. He merely said that some sectors of the economy had sticky inflation that might require more rate hikes to control, and other sectors were already showing stability. His final statements were neither bullish nor bearish, and he concluded his speech with, "We are going to react depending on the data we gather". - Who's in control in this situation? The Federal Reserve or Inflation?
I guess the market took Powell's statement and his lack of conviction as a bullish sign as the major indices went up after his speech. I would expect the opposite move as he confirmed more rate hikes will probably be needed, but I guess not sounding too hawkish can now be considered a pivot.
I haven't been following market news recently so am clueless on the current moods.
Jerome Powell didn't say anything with conviction. He merely said that some sectors of the economy had sticky inflation that might require more rate hikes to control, and other sectors were already showing stability. His final statements were neither bullish nor bearish, and he concluded his speech with, "We are going to react depending on the data we gather". - Who's in control in this situation? The Federal Reserve or Inflation?
Seems that the spiral for USD is behind them given that inflation is on the downward trend. Though I'm also concerned that the Chinese economy seems to be on the brink of a recession, which would then cause the U.S. economy to enter a recession given it's fragile state already. If the federal reserve does raise interest rates, a recession just arrives sooner.
Damn Right, well this all just is so messed up and interest rates will rise more I think and these pause of slight decrements are temporary.
Well, what could be done
Well, Inflation could be tackle with many possible solution if people wants to but federal reserve's problem will be solved if they want to.
Well, what could be done
Who's in control in this situation? The Federal Reserve or Inflation?
Isn't the same thing! Well, Inflation could be tackle with many possible solution if people wants to but federal reserve's problem will be solved if they want to. 
To bad he had to undecided about his take on the issue of rate hikes because market participants were expectant about his speech so it could help them gauge the future of US monetary bank's policy.
Since July of 2022, most decisions on interest rates have been unanimous but I guess it's not going to be the same now as banks remain divided.
IMO, it will be much of a load to introduce more stressors to the economy in form of rate hikes as the effects of the previous ones haven't fully materialized.
Powell thinks he can corrall inflation to 2% target they set and here I am waiting for that to happen.
Since July of 2022, most decisions on interest rates have been unanimous but I guess it's not going to be the same now as banks remain divided.
IMO, it will be much of a load to introduce more stressors to the economy in form of rate hikes as the effects of the previous ones haven't fully materialized.
Powell thinks he can corrall inflation to 2% target they set and here I am waiting for that to happen.
Bump.
Fed Chairman is speaking.
The speech was short, it ended in about 15 minutes.
Jerome Powell didn't say anything with conviction. He merely said that some sectors of the economy had sticky inflation that might require more rate hikes to control, and other sectors were already showing stability. His final statements were neither bullish nor bearish, and he concluded his speech with, "We are going to react depending on the data we gather". - Who's in control in this situation? The Federal Reserve or Inflation?
Fed Chairman is speaking.
The speech was short, it ended in about 15 minutes.
Jerome Powell didn't say anything with conviction. He merely said that some sectors of the economy had sticky inflation that might require more rate hikes to control, and other sectors were already showing stability. His final statements were neither bullish nor bearish, and he concluded his speech with, "We are going to react depending on the data we gather". - Who's in control in this situation? The Federal Reserve or Inflation?
Federal Reserve Chairman Jerome Powell will deliver a speech about what the Cabal behind the Federal Reserve will do for the next few months until the next Federal Reserve meeting.
It will be live in this YouTube link,
https://www.youtube.com/live/Y-1SowXR8zY?si=PZo7srAR42NgY4zX
Many expect that because inflation is already decelerating, Powell might pause rate hikes again and give the stock market some time to "breathe".
It will be live in this YouTube link,
https://www.youtube.com/live/Y-1SowXR8zY?si=PZo7srAR42NgY4zX
Many expect that because inflation is already decelerating, Powell might pause rate hikes again and give the stock market some time to "breathe".
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