Fed Chair Powell says to expect another rate hike in 2023, soft landing is not the baseline scenario
Federal Reserve Chair Jerome Powell explained that the central bank decided to pause in September because they believed the impact of previous hikes was still working its way through the system, but most FOMC members see one more hike in 2023.
"The fact that we've decided to maintain the policy rate at this meeting does not mean that we've decided that we have or have not at this time reached that stance of monetary policy that we are seeking,” he said.
When asked about the reason for potential rate cuts being pushed further out, Powell said the Fed’s higher-for-longer stance is primarily about strong growth rather than sticky inflation.
“Rather than pointing more to a sense of inflation having become more persistent [...] it's more about stronger economic activity, I would say, if I had to attribute it to one thing,” Powell said.
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Видео Fed Chair Powell says to expect another rate hike in 2023, soft landing is not the baseline scenario канала Kitco NEWS
"The fact that we've decided to maintain the policy rate at this meeting does not mean that we've decided that we have or have not at this time reached that stance of monetary policy that we are seeking,” he said.
When asked about the reason for potential rate cuts being pushed further out, Powell said the Fed’s higher-for-longer stance is primarily about strong growth rather than sticky inflation.
“Rather than pointing more to a sense of inflation having become more persistent [...] it's more about stronger economic activity, I would say, if I had to attribute it to one thing,” Powell said.
__________________________________________________________________
Kitco News is the gold standard in precious metals, commodities, cryptocurrencies, mining, and financial news.
SUBSCRIBE to our channel to stay up to date on the latest market and industry news.
For breaking news, views, charts, and data on precious metals, cryptocurrencies, and financial markets - visit us at https://www.kitco.com
To get market updates on the go, download the Kitco Gold Live! APP - https://applications.kitco.com
Stay connected:
Twitter - https://twitter.com/kitconewsnow
Instagram - https://www.instagram.com/kitconews
Facebook - https://www.facebook.com/KitcoNews
LinkedIn - https://www.linkedin.com/company/kitconews
StockTwits - https://stocktwits.com/kitconews
Live gold price and chart: https://www.kitco.com/gold-price-today-usa/
Live silver price and chart: https://www.kitco.com/Silver-price-today-USA/
Live crypto market data: https://www.kitco.com/price/crypto/
Learn more about Kitco News: https://www.kitco.com/news/about/
For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: www.kitco.com/advertising
Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News.
Видео Fed Chair Powell says to expect another rate hike in 2023, soft landing is not the baseline scenario канала Kitco NEWS
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