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Powell Asked If His Concern Over Financial Conditions Has Eased

FED
  • Q: Has your concern over easing financial conditions eased?
    • A: It is something we monitor carefully. Fin conditions haven't change much from the December meeting until now. It's important that markets reflect the tightening we are putting in place. There's a difference in perspective by some market measures on how fast inflation will come down, we will have to see. Our forecast it will take some time and patience, and we will need to keep rates higher for longer, but we will see.
  • Last Q of the press conference is on QT and the debt ceiling:
    • A: It's very hard to think about all the possible ramifications for money markets/ TGA; basically I don't think there is likely to be any important interaction between the two, because I believe Congress will wind up raising the debt ceiling. We will be monitoring that.

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