Jay Powell won't give in to the market's biggest fear: Morning Brief

, holding the fed funds rate at a 23-year high between 5.25%-5.50% amid a "lack of further progress" bringing inflation back to its 2% target.

Pressed by Yahoo Finance's Jennifer Schonberger on whether, say, a rise in the unemployment rate above 4% would constitute an unexpected softening, Powell said a "couple of tenths in the unemployment rate would probably not do that." As Renaissance Macro's Neil Dutta wrote: "Powell believes that policy is restrictive. If policy is restrictive, they are more concerned about downside growth risks than upside inflation risks."

Powell's prepared remarks on Wednesday no longer included language suggesting it would be appropriate "at some point" this year to cut rates. A notable in the close-reading world of Fedspeak.As Wells Fargo economist Jay Bryson wrote Wednesday, "recent data appear to have pushed the FOMC away from the precipice of rate cuts but still very comfortable with a wait and see approach.

"I'm not even supposed to be talking to you," the indicted former president falsely claimed to his supporters.1 Magnificent Dividend Stock That’s Down 21% and Trading at a Once-in-a-Decade Valuation Fact Check: Post Claims Trump Said He'd 'Force Every Pregnant Woman to Submit to Government Monitoring.' Here's the Actual Quote

Source: News Formal (newsformal.com)

Interest Rates Federal Reserve Unemployment Rate Economic Data Releases

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investors look to Jay Powell for clarity on where rates are goingThe Fed is expected to keep interest rates at a 23-year high Wednesday, but investors will be listening for any signs of how long they will have to wait...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Investors confused about the Fed's rate path look to Jay Powell for answersInvestors are hoping Fed Chair Jerome Powell will provide some answers this week about everything from the unpredictable path of inflation to whether 2024...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Jay Powell just made 2024 more of a puzzle for regional banksHigher deposit costs are eating into profits of regional banks. That pressure is not likely to abate anytime soon as the Fed dials back its expectations for ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

How Jay Powell and the Fed pivoted back to higher for longerFed Chair Jay Powell and other Fed officials struck a more hawkish stance this past week, setting off a new debate across Wall Street about how the rest of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Jay Powell just made buying a home this spring even more challengingThe Fed chair this week doused any hope homebuyers still had that mortgage rates would soften anytime soon.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Jay Powell really wants Americans to know he is not thinking about politicsThe Fed chairman went out of his way to make it clear this week that the Fed is free from personal or political bias as he continues to navigate a red-hot...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »