A ‘pause’ in rate-hikes and a far more hawkish dot-plot than expected spooked markets and then Powell monotonously meandered through his press conference, seemingly providing something for doves to cling to (though we are not sure what). Powell emphasized that the inflation fight is still a priority: “Without price stability, the economy doesn’t work for anyone.” “There’s just not a lot of progress in core inflation.”
“We want to see it moving down decisively.” But: “Risks for inflation are still to the upside.” Powell says the process of getting inflation back to the 2% target “has a long […]
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