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...Federal Reserve chair Jay Powell has acknowledged it will likely take “longer than expected” for inflation to return to the US central bank’s 2 per cent goal and cut interest rates....
...Bets of just one cut rose after Powell’s remarks....
...Powell will acknowledge “considerable progress” on the economy and say interest rates, now at a 23-year high in a range of 5.25 to 5.5 per cent, are unlikely to rise again....
...“We’re waiting to become more confident that inflation is moving sustainably to 2 per cent,” Powell said....
...Powell said this US “exceptionalism” in the face of weaker global growth meant the central bank could afford to take its time....
...Powell also downplayed the risks that the US’s persistently hot labour market would hinder the inflation fight....
...“We’re doing the best of anybody,” Powell said. “We’ve got the strongest growth and the lowest inflation of the advanced economies.”...
...A Federal Reserve poll on financial stability has highlighted markets’ concerns over high interest rates, just days after central bank chair Jay Powell signalled borrowing costs would have to remain at a...
...Katie here, helping out Ethan because he asked me nicely and Rob is slaying the slopes....
...katie.martin@ft.com...
...Powell said he had never seen a regulatory proposal elicit so much criticism, adding that there were “real concerns” the plans could increase risks to the banking system and undermine market competition....
...“The broader situation is that the economy is strong, the labour market is strong, and inflation is coming down,” Powell said....
...And yet, Powell said, there was still “a way to go” before victory could be declared....
...Katie MartinThe ghost of Arthur Burns stalks the corridors of power and monetary policy. So nobody wants to be Arthur Burns, least of all Jay Powell....
...Powell said that the latest readings showed low unemployment was posing less of a threat to the Fed’s 2 per cent inflation goal....
...Katie MartinThen what you’re not going to get is Jay Powell saying no, sure, we’re gonna start cutting rates in March....
...[MUSIC PLAYING] Michela Tindera Our next question is from a listener named Mike Powell. His question is: what is your single biggest investment regret? Robert Armstrong Katie, you go first....
...“The economy is performing well,” said Fed chair Jay Powell in the news conference after the FOMC announcement....
...If you have a big chunk, perhaps more than half of the market buying stocks for a reason, that is not, I believe in this stock, but rather it is on a list of stocks that S&P Dow Jones Indices told me I should...
...In comments that echo remarks by Fed chair Jay Powell, board governor Lisa Cook told students at Harvard: “The risk of easing monetary policy too much or too soon is that it could allow above-target inflation...
...For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X....
...Katie MartinAnd as you say, Jay Powell, he’s not one to pass up an opportunity to be a bit miserable, but instead he was saying, first of all, victory lap, all those bozos who said we were heading into a...
...And so I think we need to take Fed chair Powell at his word....
...Additional reporting by Claire Jones...
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