January 29, 2025 19:33 GMT
FED: Chair Powell Begins January FOMC Press Conference
FED
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- Fed Chair Jerome Powell begins his opening statement in the January FOMC Press Conference.
- Over the past two years, labor market conditions have cooled from their formerly overheated state and remain solid. Inflation has moved much closer to our 2% longer run goal, though it remains somewhat elevated.
- Recent indicators suggest that economic activity has continued to expand at a solid pace.
- Overall a wide set of indicators suggest that the labor market is broadly in balance, and is not a source of significant inflationary pressures.
- Based on CPI and other data indicate that total PCE prices rose 2.6% over the 12 months ending in December; core 2.8%.
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