Fed's Powell: Incoming data have been broadly in-line with expectations

Author: Adam Button | Category: Central Banks

Comments from Powell:

Powell May 1
  • Jobs and growth data has been a bit stronger than our expectations while inflation has been a bit weaker
  • We suspect some transitory factors are at work with inflation at 1.5%
  • Global financial conditions have eased
  • Risks around outlook have diminished
  • There are reports of progress in US-China trade talks
  • Brexit risks have been pushed off for now
  • China and Europe have shown some improvement
  • IOER does not reflect any shift in stance of monetary policy
The US dollar has slumped because he's brushed off inflation worries. "Our baseline view remains that with a strong job market and continued growth, inflation will return to 2% over time."
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