[ad_1]
Summary
Powell: Continue to relax and a brief rise in inflation will not be a reason to raise interest rates.
Powell said the dangers facing the US economy became apparent a year ago.InlandChu is firmly committed to achieving political goals. Some very bad economic results have been avoided. No one should be complacent. As long as there is a need,InlandChu will continue to provide support. Thanks to advances in vaccination and fiscal stimulus, the economic outlook is even stronger. It may take some time to make more substantial progress. Our orientation is based on results, far from realizationjobAnd the inflation target still has a long way to go.
The path of economic development largely depends on the development of the epidemic. The economic recovery is uneven. The ongoing vaccination offers hope of returning to normal life later this year.ProductExpenses have increased significantly, but service expenses are still slow.
workThe participation rate is still lower than the level before the epidemic.unemploymentThe rate continues to rise. More rapid growth in consumption and employment is expected.workforcemarketA series of indicators. It is unrealistic to adopt other labor market measures in September 10 million people still need to returnjobsmailThis will take some time. No matter how good the economic performance is,unemployment rateIt will take some time to reject it. We believe that the labor market is showing weakness due to inequality. Fiscal policy will accelerate the restoration of maximum employment. In general, fiscal policy will help us avoid leaving “scars.”
Powell noted that the inflation rate is still below the 2% target. As the economy continues to recover, the effect beyond core may givepriceBring the pressure up. One-time price increases can have a short-term impact on inflation A short-term increase in the inflation rate above 2% is not in line with the increaseinterest rateStandards. We expect to see an inflation rate moderately above 2% over a period of time. We refuse to quantify the comfort level of inflation.
To achieve recovery, we must achieve maximum employment and the inflation target of 2%, rather than allowing inflation to temporarily exceed 2%.InlandFederal Reservebackgroundinterest rateIt has been at zero for seven years, but it has not caused a financial surplus. We monitor financial conditions thoroughly and carefully.
Gone are the days of close links between low unemployment and inflation. We believe that we have the freedom to seek a high-level job without worrying about inflation. Job opportunities are expected to increase faster than in February. It is expected to see strong job growth soon, but it will take some time to make substantial progress.
Inflation in March and April is likely to rise further. But rising inflation will soon disappear. As the economy reopens, people will start to increase consumption, which can mean a relatively modest increase in inflation. We have established a moderate inflation model. Stable inflation at 2% allows us to vigorously promote economic recovery when the economy is very weak. Inflation expectations are firmly anchored around 2%. Supply bottlenecks are expected to appear over time and be phased out. Really strong economic data should come out in the future. You will see that people are not willing to raise prices.
Powell said the bitmap is a personal prediction of the committee members, not the United States.Open marketCommittee(FOMC) forecast or promise. Changes to the bitmap will depend on economic performance, and current economic performance is highly uncertain. It will not do too much interpretation of the bitmap.
badgePolicies must be formulated to achieve macroeconomic objectives. Work is currently underway on other parts of the financial system that need to be strengthened. We are committed to providing the necessary support to achieve the Fed’s objectives. Before we send the signal, you can assume that we have not made substantial progress.
When we see the data that we are making substantial progress, we will let you know.LinkProvide clear communication before purchasing a scale. It will wait until the conditions are clearly met before raising interest rates. I don’t want to focus on the possible timing of interest rate hikes. We are committed to providing the support the economy needs to achieve the Federal Reserve’s goals. It is not appropriate to propose a possible reduction in the time of quantitative easing measures.
The Fed’s forecasts for the economy have been revised significantly higher. There will be considerable uncertainty in the economic situation in the next two to three years. The summary of the economic forecasts will not include all the aspects of our concern.interest rateClear guidance for ascent. Most members of the US Federal Open Market Committee (FOMC) have stated that they will not raise interest rates before 2023.
Fed Chairman Powell (when asked about supplemental leverage): We will announce some news on supplemental leverage (SLR) in the coming days.
Fed Chairman Powell (asked about theNational debtYield): A number of financial indicators are being monitored, and it is still very important to maintain a flexible financial environment. There is concern about the disorderly state of the market and the austerity policies that threaten the achievement of the objectives.
Fed Chairman Powell (asked about the need to distort operations): Our current policy stance is appropriate.
Fed Chairman Powell (when asked about the differences between the United States and the euro zone): As in the post-crisis situation, we are experiencing varying degrees of recovery. Growing demand from the United States will also support economic activities on a global scale. In the short term, I am not worried about the situation in the United States. I hope that the economic growth of EuropeChangheImproving in terms of vaccines.
Powell said we will leave the discussion on herd immunity to the experts to respond. The emergence of new strains of new coronary pneumonia indicates that the epidemic is not over yet. In the long term, investments are needed to drive potential growth. It is beneficial to focus on long-term investments. The US economic recovery is leading the global economic recovery. Data related to the economy should strengthen soon and remain strong for a period of time. We are in an economic situation of great uncertainty, we will be in the next few weeksBankDividends andRepurchase of sharesMake a decision.
No recommendations were made to Congress on the next fiscal measures. Financial stability is not for a specific market. As measured by certain standards, asset values are at a high level – don’t worry about family orbusinessDebt levels. It is necessary to reassess the durability of the short-term financing market. It will strengthen the short-term financing market and notBankThe development of financial markets is a priority. It is absolutely necessary to maintain the stability of the financial system and to monitor it carefully.
(Source: Huitong.com)
(Editor in charge: DF407)
I solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this booth.
[ad_2]