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Powell Says Fed Getting Close To The Level Of Sufficiently Restrictive
- Q: Are you reacting to looser financial conditions; is the Fed a little behind on inflation; is recent disinflation transitory; how this affects the idea of a soft landing.
- A: We're getting close to the level of sufficiently restrictive, we laid out today what our best estimates are to get there. It boils down to how long we think the process is going to take. These inflation reports are very welcome but we're realistic about the broader project, we need to be honest with ourselves - 12 month core inflation is 6%, 3 times the 2% target. It's good to see progress but we have a long ways to go to get back to price stability.
- I wouldn't say that [the soft landing is no longer achievable].
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.