Powell speech: Will likely have to maintain restrictive stance for some time
|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 4.5-4.75% following the first policy meeting of 2023.
Key quotes
"We have taken forceful actions over past year."
"We have covered a lot of ground, full effects yet to be felt."
"We have more work to do."
"We continue to anticipate ongoing increases will be appropriate to get to sufficiently restrictive stance."
"We will likely have to maintain restrictive stance for some time."
"Economy slowed significantly last year."
"Consumer spending appears to be subdued."
"Housing activity continues to weaken."
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.