In his second speech of the day, Powell talked about the domestic scenario in the US by

In his second speech of the day, Powell talked about the domestic scenario in the US by
© Reuters

ATLANTA (Reuters) – Jerome Powell, Chairman of the US Central Bank, speaks for the second time on Friday (1). Earlier, he said that the risks of the Federal Reserve (the US central bank) exaggerating in raising interest rates and the US economy slowing down too much have become “more balanced” against those that do not move sufficiently to control inflation.

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Noting that the key measure of inflation averaged 2.5% in the six months through October, close to the 2% target, Powell said it was clear the Fed’s monetary policy was slowing the economy as expected, with a base rate “good.” In the restricted area. “.

“It is likely that the full effects of our tightening have not yet been felt. The strength of our response to inflation has also helped preserve the Fed’s hard-earned credibility, ensuring that overall expectations about future inflation remain well anchored,” Powell said. In prepared remarks for Spelman College event.

“Having come so far so quickly, the FOMC is proceeding cautiously as the risks of too little or too much tightening become more balanced.”

Powell stressed, as other Fed officials have done in recent weeks, that it is still too early to declare the battle against inflation over, with prices rising 3.0% year-on-year the central bank’s preferred measure.

He added: “We are prepared to tighten monetary policy further if appropriate.”

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