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Chair Powell Begins Press Conference

FED
  • FOMC squarely focused on the dual mandate. Continues with much of the same language on why it's important to stabilize prices, and explaining the hike and QT continuing.
  • "Looking ahead we will continue to take a data dependent approach in determining the extent of additional policy firming that may be appropriate. "
  • Recent indicators show economy expanding at a moderate pace. Although housing activity has picked up, it's well below 2022 levels, reflecting higher mortgage rates.

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