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Chair Powell Begins June Press Conference

FED
  • Fed Chair Powell begins with the usual spiel about being focused on bringing inflation back down to 2%, how price stability is a prerequisite for a strong labor market.
  • "Since early last year, the FOMC has tightened the stance of monetary policy...In light of how far we've come in tightening policy, the uncertain lags with which monetary policy affects the economy, and potential headwinds from credit tightening, today we decided to leave our policy interest rate unchanged ...Nearly all participants view it as likely that some further rate increases will be appropriate this year to bring inflation to 2% over time."

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