Powell speech: Too early to say if recent effects change odds of soft landing
|FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve's decision to raise the policy rate by 25 basis points to the range of 4.75-5% following the March policy meeting.
Key quotes
"We have the tools to protect depositors when there is the threat to economy, and are prepared to use them."
"Depositors should assume their deposits are safe."
"Takeover of credit suisse seems to have been a positive outcome."
"Unemployment rate estimate for this year is a highly uncertain estimate."
"Recessions tend to be nonlinear so very hard to model."
"We are very focused on getting inflation down."
"Too early to say if recent effects change odds of soft landing."
"There is still a pathway to a soft landing, trying to find it."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.