Jerome Powell confirmed he will be slowing down future rate hikes. Powell says the level of restraint right now is enough to bring inflation down. The lower rate hikes may come as soon as December. The US Treasury yield after the news as well.
But Jerome Powell added that he’ll still need to see the data to see determine what the future rate hikes will be.
A big issue that caused pandemics was the excess retirements during COVID.
This pressures the Fed to keep raising rate hikes because more jobs and better wages don’t help inflation come down.
Jerome Powell said that jobs were a key factor in determining the continuing rate hikes and a strong jobs report doesn’t help to ease on rate hikes.
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