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Chair Powell Reiterates He Has No Intention On Signalling Timing of Cuts

FED
  • Q: Are you going to need to reduce rates to make sure not squeezing the economy harder over time with inflation coming down? And in the last press conference you said something to the effect you didn't see a cut until at least a full year out, what did you mean by that?
    • A: About cutting: I never intend to send a signal about timing, I'm just answering them as the question is expressed. I wouldn't want to be taken that way.
    • The time will come at some point, and I'm not saying when, that it's appropriate to cut. May be that real rates are rising because inflation's coming down. The time will certainly come, and there is so much uncertainty. No one will look back at this and say hey, we made a plan.
  • Q: If the strong GDP growth driven by excess demand, and if GDP keeps coming in strong even absent inflation resurgence, would that be on its own a reason to consider more tightening?
    • A: GDP is not a mandate - max employment and price stability are. We would be looking at GDP just to the extent that it threatens one or both of those.
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