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18:43
Fed Chair Powell: Current Policy Stance is Appropriate
On April 30, Federal Reserve Chair Jerome Powell stated that the current policy stance is appropriate and helps to achieve the Fed's policy objectives. The U.S. economy has maintained steady growth; employment growth has been slow, and the unemployment rate has not changed significantly, while consumer spending remains resilient. Developments in the Middle East bring a high degree of uncertainty. There are risks to both sides of the dual mandate, with long-term inflation expectations aligned with the 2% target.
18:38
Powell: Recently, higher energy prices will push up inflation
Beyond that, the potential impact of the Middle East situation remains unclear.
18:36
Federal Reserve Chairman Powell said in the opening statement of the press conference that the U.S. economy has been steadily expanding.
Employment growth has remained low, with the unemployment rate generally stable. The slowdown in the growth of the employed population to some extent reflects the decline in immigration (caused by U.S. President Trump). Labor demand has also clearly become more moderate. Consumer spending has remained solid. CPI-based forecasts indicate that the U.S. PCE rose by 3.5% in March. Business fixed investment is expanding at a relatively fast pace. The housing market remains weak.
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