The Federal Reserve Chairman Jerome Powell said in the bank’ s press conference on Wednesday that the sotflanding of the US economy is diminished.
The question of recession is becoming more actual when the growth is modest. Powell said that the global Central bankers are having ongoing information sharing but declined the coordinated actions as before. He reminded that each country has their own monetary policy targets.
Powell said that the Fed will continue to monitor the economic and public data and make the rate decisions meeting by meeting. More rate hikes are thus expected for this year as well as the current inflation is clearly above the target range of 2 %. On Wednesday the Fed raised the federal funds again by 75 basis points, for a third time this year.
– We are clearly having restrictive policy now in order to have meaningfull downward pressure on inflation, he stated.
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