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Brother C
@vitaminc
Summary of the Fed press conference: - Inflation remains high: The Fed warned that inflation remains “quite high.” The rate cut follows three consecutive cuts through the end of 2024. - No rush to cut interest rates: FED Chairman Jerome Powell said the FED needs to see “real progress in inflation or weakness in the labor market before considering adjustments.” The FED remains steadfast in its 2% inflation target and is in no rush to cut interest rates. - Tariff impact remains uncertain: Powell stressed that the impact of tariffs on the economy remains unclear. “We don’t know the extent, the duration, the countries involved, or the retaliatory response. How the tariffs impact the economy and consumers remains to be seen.” - No contact with Trump: Powell asserted that he has not had any contact with President Trump, despite Trump's repeated calls for the Fed to lower interest rates. He also refused to comment on Trump's statements, saying it was "inappropriate."
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