Powell opening statement: We are attentive to risks on both sides of the mandate
Noted hurricane and strike effects on jobs in NovemberWage growth has easedUnemployment has edged down in past 3 months, remains lowLabor market conditions now less tight than just before pandemic, notes it's not a source of significant inflation pressuresOverall inflation has moved much closer to goalCore inflation remains somewhat elevatedWe are committed to maintaining economy's strengthIf inflation remains strong, we can dial back policy more slowlyIf jobs falter, we can lower rates more quicklyWe will do everything we can to achieve our maximum employment and price stability goalsThere wasn't much here in terms of hints of what's coming next. The one nod is that they will normalize 'more slowly' if the economy runs better. That doesn't mean a halt, just slowing to something like a cut at every second meeting. This article was written by Adam Button at www.forexlive.com.
- Noted hurricane and strike effects on jobs in November
- Wage growth has eased
- Unemployment has edged down in past 3 months, remains low
- Labor market conditions now less tight than just before pandemic, notes it's not a source of significant inflation pressures
- Overall inflation has moved much closer to goal
- Core inflation remains somewhat elevated
- We are committed to maintaining economy's strength
- If inflation remains strong, we can dial back policy more slowly
- If jobs falter, we can lower rates more quickly
- We will do everything we can to achieve our maximum employment and price stability goals
There wasn't much here in terms of hints of what's coming next. The one nod is that they will normalize 'more slowly' if the economy runs better. That doesn't mean a halt, just slowing to something like a cut at every second meeting.
