With this, chairman Jerome Powell, prices are already talking the other way, but stocks are initially lower, interest rates are rising and the dollar is picking up on the Fed’s rate decision of a dir quarter hike to 3.00-3.25%.
Although Fed rate decision is in the nick of three quarters, more quarters are on the way (than expected). The Fed was, is and will remain on a collision course with inflation until it is back in its 2% cage. By all means necessary. The bank does not rule out a recession. And the longer the pressco lasts, the faster the prices go!
Is this the smoking gun with adjacent quotes? Recession is possible, but the chairman certainly does not foresee a drama economy.
- Sep 21 – 20:59:57 [RTRS] – FED’S POWELL: THERE IS A POSSIBILITY THAT GROWTH COULD BE STRONGER THAN WE FORECAST, AND THAT’S A GOOD THING
- Sep 21 – 20:59:05 [RTRS] – FED’S POWELL: THIS IS A STRONG, ROBUST ECONOMY
This is a live blog, so keep updating for more. This is the news item of the interest rate decision itself.
The well-known dot plot. Their names are not listed, but these are the long expectations of all the interest rate committee, or FOMC members of the Fed. So yield peak around the turn of the year 2023-2024. We will keep the volatile market expectations until after the press release and completion of this blog.
Follow the press conference here from 20:30 to a maximum of 21:30. Here are the key quotes from Fed Chair Jerome Powell, who is always very lavish about them. Everything to bring inflation back to 2%. He again does not use the word recession, but does speak of a slowdown in growth.
- Sep 21 – 20:46:34 [RTRS] – FED’S POWELL: NO ONE KNOWS IF WE WILL GET A RECESSION, OR IF SO, HOW DEEP IT WOULD BE
- 21 Sep – 20:46:00 [RTRS] – FED’S POWELL: IF SUPPLY SHOCKS ALSO ABATE, COULD ALSO EASE PRESSURES ON INFLATION
- Sep 21 – 20:45:55 [RTRS] – FED’S POWELL: COMMODITY PRICES LOOK LIKE THEY MAY HAVE PEAKED
- Sep 21 – 20:39:14 [RTRS] – FED’S POWELL: MY MAIN MESSAGE IS FOMC IS STRONGLY RESOLVED TO BRING INFLATION DOWN, WILL KEEP AT IT UNTIL JOB IS DONE
- Sep 21 – 20:38:05 [RTRS] – FED’S POWELL: REDUCING INFLATION IS LIKELY TO REQUIRE A SUSTAINED PERIOD OF BELOW TREND GROWTH
- Sep 21 – 20:36:20 [RTRS] – FED’S POWELL: WILL BE LOOKING FOR COMPELLING EVIDENCE INFLATION IS MOVING
- Sep 21 – 20:35:11 [RTRS] – FED’S POWELL: NO GROUNDS FOR COMPLACENCY ON INFLATION
- Sep 21 – 20:34:52 [RTRS] – FED’S POWELL: PARTICIPANTS CONTINUE TO SEE UPSIDE RISKS TO INFLATION
the bouncers, this time it’s different?
- Sep 21 – 20:44:36 [RTRS] – FED’S POWELL: WE SEE CURRENT SITUATION AS OUTSIDE OF HISTORICAL NORMS
- Sep 21 – 20:44:48 [RTRS] – FED’S POWELL: THAT’S WHY UNEMPLOYMENT RATE MAY NOT RISE AS MUCH AS IN PAST RECESSIONS