Powell: The labor market is still strong, though we’ve seen a continued rebalancing

  • We want to see more progress on inflation
  • The latest data shows we’re on a better path on wages
  • We would like to see more data like we’ve seeing
  • The latest PCE at 2.6% shows ‘really significant progress’
  • “We just want to understand that the levels we’re seeing are a true reading on what’s happening in underlying inflation”
  • We have the ability to take our time and get his right
  • If we go too soon, we could undermine the work we’ve done on inflation
  • Risks are coming much more into balance now

The Fed funds market is pricing in 47 bps of cuts this year.

This article was written by Adam Button at www.forexlive.com. Source