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Powell Pushes Back On Recent Financial Conditions Easing

FED
  • Further on inflation: "Participants continue to see risks to inflation as weighted to the upside." Though expectations "appear to remain well anchored", "that is not grounds for complacency".
  • Powell pushes back on recent fin conditions easing, says "financial conditions fluctuate in the short term in response to many factors, but it is important that over time they reflect the policy restraint that we're putting in place to return inflation to 2%.
  • Powell notes that 50bp is a step-down from 75bp but "still a historically large increase and we still have some ways to go".

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