Fed Chair Powell: Reiterates expectations that at the coming meeting will begin balance sheet reduction By Frank_Macro Fed Inflation InterestRate
reiterated on Monday his expectations that at the upcoming Fed meeting, the central bank will begin the process of balance sheet reduction, a process to last three years. Monetary quantities are not an important part of the inflation story at this time, Powell noted, saying that having a strong labour market is important and a big focus. The current labour market is much tighter and hotter than before the pandemic, Powell added.
"But want to be very careful to get monetary policy where it needs to be and not comfortable with looking through the shock.""We may well reach the conclusion that we need to move more quickly.""It's not necessarily for monetary policy to do 100% of the work against inflation."Information on these pages contains forward-looking statements that involve risks and uncertainties.
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