{"id":77131,"date":"2022-12-14T23:58:31","date_gmt":"2022-12-14T19:58:31","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=77131"},"modified":"2022-12-15T00:25:01","modified_gmt":"2022-12-14T20:25:01","slug":"powell-speech-focus-is-on-moving-policy-stance-to-become-restrictive-enough-not-on-rate-cuts","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/powell-speech-focus-is-on-moving-policy-stance-to-become-restrictive-enough-not-on-rate-cuts\/12\/14\/market-updates\/","title":{"rendered":"Powell: Aiming at moving policy to be restrictive enough, not at rate cuts"},"content":{"rendered":"\n<p>FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve&#8217;s decision to raise the policy rate by 50 basis points to the range of 4.25-4.5% following the December policy meeting.<br><br><strong>Key quotes<br><\/strong><br>&#8220;Drop in inflation will come from goods sector and by the middle of next year from housing services\u201d.<br><br>&#8220;For the non-housing services sector, that is the key one that needs to get into better balance\u201d.<br><br>&#8220;We want strong wage increases, but consistent with 2% inflation\u201d.<br><br>&#8220;Expect a very large drop in inflation next year, but the jump-off point at beginning of the year is higher\u201d.<br><br>&#8220;Right now wages are running well above that consistent with 2% inflation\u201d.<br><br>&#8220;Our focus is on moving our policy stance to become restrictive enough, it&#8217;s not on rate cuts\u201d.<br><br>&#8220;I wouldn&#8217;t see us considering rate cuts until FOMC is confident inflation moving down in a sustained way\u201d.<br><br>&#8220;There are no rate cuts in the SEP\u201d.<br><br>&#8220;Hard to say how the end of zero-Covid policy in China will affect US inflation\u201d.<br><br>&#8220;China faces very challenging situation on reopening\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve&#8217;s decision to raise the policy rate by 50 basis points to the range of 4.25-4.5% following the December policy meeting.Key quotes&#8220;Drop in inflation will come from goods sector and by the middle of next year from housing services\u201d.&#8220;For the non-housing services sector, &hellip;<\/p>\n","protected":false},"author":13,"featured_media":51257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[9591,7163],"class_list":["post-77131","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-fomc-decision","tag-jerome-powell"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=77131"}],"version-history":[{"count":5,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77131\/revisions"}],"predecessor-version":[{"id":77139,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77131\/revisions\/77139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/51257"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=77131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=77131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=77131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}