{"id":77134,"date":"2022-12-15T00:23:07","date_gmt":"2022-12-14T20:23:07","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=77134"},"modified":"2022-12-15T00:24:18","modified_gmt":"2022-12-14T20:24:18","slug":"powell-no-one-knows-if-we-are-going-to-have-a-recession-or-not","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/powell-no-one-knows-if-we-are-going-to-have-a-recession-or-not\/12\/15\/market-updates\/","title":{"rendered":"Powell: No one knows if we are going to have a recession or not"},"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;Data we have received so far on inflation for October and November do show a welcome reduction in price pressures; need substantially more evidence though to be confident inflation coming down\u201d.<br><br>&#8220;That recent data gives us greater confidence in our forecasts\u201d.<br><br>&#8220;Inflation in non-housing services is fundamentally about the labor market and wages\u201d.<br><br>&#8220;We see little progress in average hourly earnings coming down\u201d.<br><br>&#8220;We will be looking for wages moving down to more normal levels\u201d.<br><br>&#8220;Our policy is getting close to sufficiently restrictive\u201d.<br><br>&#8220;No one knows if we are going to have a recession or not\u201d.<br><br>&#8220;If lower inflation reports continue, that would increase likelihood of significantly less of an increase in unemployment\u201d.<br><br>&#8220;Largest pain would come from failure to raise rates high enough\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;Data we have received so far on inflation for October and November do show a welcome reduction in price pressures; need substantially &hellip;<\/p>\n","protected":false},"author":13,"featured_media":62386,"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":[7164,7536],"class_list":["post-77134","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-powell","tag-recession"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77134","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=77134"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77134\/revisions"}],"predecessor-version":[{"id":77144,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77134\/revisions\/77144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62386"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=77134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=77134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=77134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}