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Chair Powell Begins March FOMC Press Conference

FED
  • Powell: The economy has made considerable progress towards the dual mandate objective. That is good news. But inflation is still high. The path forward is
  • The risks to inflation and employment goals are moving into better balance.
  • Recent indicators show activity has been expanding at a solid pace. Housing sector activity was subdued over the past year, high rates also appear to have affected business fixed investment.
  • Labor market: relatively tight but supply and demand coming into better balance, though demand still exceeds supply.
  • Inflation has eased notably over the past year but remains above our longer-run 2% target. Core PCE rose 2.8% Y/Y to February. Longer-run expectations remain well anchored.

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