Powell: Recent readings on job gains and inflation higher than expected but do not materially change overall pictureIf economy evolves as Fed expects, most FOMC participants see it likely appropriate to begin cutting rates this yearToo soon to saw whether recent inflation readings are more than just a bumpFed has time to let incoming data guide its policy decisions, we’re deciding meeting by meetingOutlook is still uncertain, Fed faces risks on both sides of his mandateLabor market rebalancing seen in data on quits, job openings, employer and working survey and continued gradual decline in wage growthEconomy still one of solid growth, strong but rebalancing labor market, inflation moving down to 2% on a sometimes bumpy path
Here were Powell’s comments from Friday.
This article was written by Adam Button at www.forexlive.com.