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Powell Goes Through SEP, Harkens Back To Jackson Hole Speech

FED
  • Goes through SEP projections on unemp and employment, with fancy charts.
    • "Price pressures remain evident across a broad range of goods and services. Although gasoline prices have turned down, they remain well above year earlier levels in part reflecting Russia's war against Ukraine, which has boosted prices for energy and food and created additional upward pressure on inflation."
  • Powell harkens back to his Jackson Hole speech:
    • "Participants continue to see risks to inflation as weighted to the upside. Despite elevated inflation, longer-term expectations remain well-anchored, as reflected in surveys, as well as measures from financial markets. But that is not grounds for complacency. The longer the current bout of high inflation continues, the greater the chance that expectations of higher inflation will become entrenched."
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