Powell speech: Rate hike does not appear to be a likely outcome next year

Eren Sengezer FXStreet

Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 25 basis points to the range of 4.25%-4.5% after the December meeting and responds to questions in the post-meeting press conference.

Key quotes

"Geopolitical turmoil remains a risk."

"There's high uncertainty projecting the economy 3 years ahead."

"It's been frustrating, progress on inflation is slower than hoped."

"Still, feeling good about where we are headed."

"We won't settle for above 2% inflation."

"We have every intention of getting inflation to 2%, I am confident we will achieve."

"We have made a great deal of progress."

"We don't rule things in or out."

"Rate hike does not appear to be a likely outcome next year."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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