- Chair Powell begins with his prepared statement:
- Inflation has eased substantially ... labor market has cooled from its formerly heated state and remains solid. FOMC has decided to take another step in lowering restraint. Continue to be confident that with a continued recalibration of our policy stance, strength in the economy and the labor market can be maintained with inflation moving down to 2%.
- Powell notes that the NFP figure (104k per month in last 3 months) would have been higher if not for strikes / hurricanes in October.
- Unemployment rate notably higher than a year ago but has edged down in last 3 months. Powell says again that labor market not a major source of inflationary pressures.
- Overall inflation has moved much close to our 2% goal, but core remains somewhat elevated.
FED: November FOMC Press Conference Begins
Last updated at:Nov-07 19:35By: Jack Lewis
Federal Reserve
- Chair Powell begins with his prepared statement:
- Inflation has eased substantially ... labor market has cooled from its formerly heated state and remains solid. FOMC has decided to take another step in lowering restraint. Continue to be confident that with a continued recalibration of our policy stance, strength in the economy and the labor market can be maintained with inflation moving down to 2%.
- Powell notes that the NFP figure (104k per month in last 3 months) would have been higher if not for strikes / hurricanes in October.
- Unemployment rate notably higher than a year ago but has edged down in last 3 months. Powell says again that labor market not a major source of inflationary pressures.
- Overall inflation has moved much close to our 2% goal, but core remains somewhat elevated.
