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Jennifer Faith avatar
Jennifer Faith
@faithinmarkets
•
‼️FOMC Press Conference‼️ 75BP Hike ➡️Strongly committed to bringing inflation to 2% goal 🥅 ➡️Moving stance ‘Purposefully’ Indicators point to modest growth in 4Q ➡️Labor market remains extremely tight ➡️Job gains robust, wage growth still elevated ➡️Labor Market continues to be out ➡️Goods and services still high ➡️They are aware high inflation poses hardship ➡️Seeing rate hike effects on demand like housing ➡️At some point will be appropriate to slow rate hikes ➡️We still have some ways to go on rates ➡️Ultimate rate level higher than previously expected ➡️Will stay the course until the job is done ➡️Need to see inflation coming down decisively ➡️Watching financial conditions tightening, eco impact ➡️Time to slow rate hikes may come as soon as next meeting ➡️Likely will have discussion for lower rate hike in the future ➡️Don’t think we’re overtightened ➡️Rate hikes have been good, successful ➡️We’ll want policy rate to where real rate is positive ➡️Looking for positive rates all across the curve ➡️Financial conditions have tightened quite a bit ➡️Haven’t clearly identified way to say inflation entrenched ➡️Ultimate rate level higher than previously anticipated ➡️Don’t want to fail to tighten enough loosen too soon ➡️Very premature to think about pausing rate hikes ➡️Labor market is very strong 💪🏻 ➡️Households have strong balance sheets ➡️Housing 🏠 activity in decline ➡️Housing 🏠 market was very overheated during the pandemic ➡️Housing 🏠 needs a balance between supply and demand ➡️Not seeing poor underwriting in housing like the ‘08 crisis ➡️Don’t see a wage price spiral 🌀 ➡️Want wages to go up at a sustainable pace ➡️We have a strong💪🏻 US Economy ➡️We take global issues into account in our models ➡️Strong 💪🏻 dollar is a challenge for some countries ➡️Fed 🧰 tools ⚒️ well suited to address demand in economy ➡️Public’s trust is Fed’s Most Important Asset‼️ ➡️FOMC discussed importance of accountability, ethics ➡️No update on pending OIG Investigations ➡️Point at which rent inflation slows is still far away ➡️We have a ways to go, ground to cover with rate hikes ➡️We are committed to getting this inflation under control ➡️Consumer spending is at modest levels, they are fine, modest growth ➡️Pausing is not something we are thinking about ➡️The window 🪟 for a soft landing has narrowed but still possible, hard to say ➡️No one knows if we will go into a recession Source: Bloomberg TV #faithinmarkets #fed #powell #bigdippers #stockhoardersanonymous #pennypinchers #jensnotes #inflation #buildandgrow #longterm #buyandhold #invest #publiccommunity #communityambassador
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