Goldman Sachs on their 3 “three takeaways from Powell’s press conference:
- First, Powell was not concerned by the firmer January and February inflation data.
- Second, Powell noted that, while the FOMC raised its 2024 GDP growth forecast meaningfully, stronger growth has been made possible recently by faster growth of labor supply and is therefore not an argument against rate cuts.
- Third, FOMC participants think it will be appropriate to slow the pace of balance sheet runoff “fairly soon.”
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This article was written by Eamonn Sheridan at www.forexlive.com. Source