Powell: ‘We won’t cut rates until we’re sure we’re going to 2% inflation’
Federal Reserve Chairman Powell said there will be no interest rate cut until he is sure of price stability.
He says he still has a long way to go.
This is reporter Kim Ji-soo.
The press conference held after the last regular meeting of the Federal Open Market Committee of the year in the United States.
Federal Reserve Chairman Jerome Powell said he won’t cut rates until he’s sure inflation has subsided.
When asked if there was a plan to cut interest rates next year, he said that it was not in this data, referring to the ‘Quarterly Economic Outlook’, which is the result of a survey of regional federal bank governors.
Jerome Powell, Federal Reserve Chairman: “Sometimes historical experience is a strong warning against easing too soon. Until the Committee is confident that inflation is steadily moving towards 2%, we will not consider lowering rates. .”
Chairman Powell said there was still a little more to go, saying significantly more evidence was needed to be certain that prices were on a sustained downward slope. 토토사이트
<Jerome Powell / Chairman of the US Federal Reserve System> “So far, all the effects of rapid tightening have not yet been felt. Even so, we have more work to do.”
He emphasized that economic pain such as low growth for a considerable period of time may be accompanied, but the most extreme pain will come from failure to control inflation.
Chairman Powell’s comments in favor of monetary tightening more than expected reflected concerns that prices in many sectors may not come down as quickly as market expectations.
This is Yonhap News Kim Ji-soo.