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Chair Powell Says A Soft Landing Is A Primary Objective

FED
  • Q: Multiple external factors right now (oil, gov't shutdown, auto worker strikes)... how are you thinking about these?
    • A: There is a long list and you hit some of them... ultimately there's a lot of uncertainty.* To start with the strike, it could affect output, hiring and inflation, but that's going to depend on how long and sustained. Traditionally hasn't had much of a macro effect.
    • Energy prices higher, that is a significant thing. Sustained higher prices can affect consumer inflation expectations.
    • Those are some of mine -you are coming into this with an economy that appears to have significant momentum.
  • Q: So, a soft landing is not a primary objective?
    • A: A soft landing is a primary objective and I did not say otherwise. That's what we've been trying to achieve for all this time.
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