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Powell Says Next Move Unlikely To Be a Hike

FED
  • Q: Are you still confident that policy is restrictive?
    • A: "I do think the evidence shows that policy is restrictive and is weighing on demand". Cites demand for labor; interest sensitive sectors such as housing; investment.
  • Q: Is policy sufficiently restrictive?
    • A: I would say that we believe it is restrictive. And we believe, over time, it will be sufficiently restrictive. That will be a question that the data will have to answer.
  • Q: If inflation continues running sideways...
    • A: I don't want to get into complicated hypotheticals. We're committed to retaining our current restrictive stance of policy as long as it is appropriate.
  • Q: What conditions would merit a rate hike?
    • A: "I'd say it's unlikely the next policy rate move will be a hike....what would it take? Persuasive evidence that our policy is not sufficiently restrictive to bring inflation down to 2%. That's not what we're seeing."
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  • Q: Are you still confident that policy is restrictive?
    • A: "I do think the evidence shows that policy is restrictive and is weighing on demand". Cites demand for labor; interest sensitive sectors such as housing; investment.
  • Q: Is policy sufficiently restrictive?
    • A: I would say that we believe it is restrictive. And we believe, over time, it will be sufficiently restrictive. That will be a question that the data will have to answer.
  • Q: If inflation continues running sideways...
    • A: I don't want to get into complicated hypotheticals. We're committed to retaining our current restrictive stance of policy as long as it is appropriate.
  • Q: What conditions would merit a rate hike?
    • A: "I'd say it's unlikely the next policy rate move will be a hike....what would it take? Persuasive evidence that our policy is not sufficiently restrictive to bring inflation down to 2%. That's not what we're seeing."