SUMMARY OF POWELL PRESS CONFERENCE (1/31/24)
$S&P 500 Index (.SPX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Nasdaq Composite Index (.IXIC.US)$
1. Reducing rates too fast could reverse inflation progress
1. Reducing rates too fast could reverse inflation progress
2. Reducing rates too late could weaken the economy
3. Prepared to maintain higher rates if needed
4. Policy rate is likely already at its peak
5. Labor market continues to look very strong
6. Activity in the housing sector has subdued
Powell is taking a very "middle of the road" approach.
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