How ChatGPT parsed the speech from Fed Powell

QUESTION: Put the fed Chair comments in bulleted topics with inflation, economy, employment, fed policy and “other” as the focus

Recent Economic Data:

  • Ongoing progress toward dual mandate goals: maximum employment and stable prices.


  • Inflation peaked at 7.1% in June 2022.
  • Core PCE inflation, excluding food and energy, at 3.7% through September.
  • Inflation readings have turned lower but still remain too high.
  • Commitment to bringing inflation down sustainably to 2%.

The Labor Market:

  • Strong job creation and increased worker supply.
  • Labor market gradually cooling with job openings and quits returning to pre-pandemic levels.
  • Wage growth showing a gradual decline.


  • Disinflation without substantially weaker economic activity.
  • Economic growth has consistently surprised to the upside.
  • A sustainable return to the 2% inflation goal may require a period of below-trend growth.

Geopolitical Tensions:

  • Elevated geopolitical tensions pose risks to global economic activity.
  • Monitoring developments for economic implications.

Monetary Policy:

  • FOMC has tightened policy substantially in the past 18 months.
  • Stance of policy is restrictive.
  • Will keep policy restrictive until confident in achieving 2% inflation sustainably.
  • Tightening may still be in the pipeline.

Financial Conditions:

  • Persistent changes in financial conditions can affect monetary policy.
  • Monitoring developments in financial conditions.


  • Commitment to returning inflation to 2% over time.
  • Balancing risks of tightening too much or too little.
  • Committee proceeding carefully based on incoming data, evolving outlook, and risk balance.

The market reaction:

  • US rates are lower. The 10-year rate was around 4.93%. It is currently trading at 4.904%. The 2 year yield was near 5.20% is currently at 5.173%
  • Stocks are higher. The Dow industrial average was down around 10 points. It is currently up around 70 points. The NASDAQ index was up around 9 points and is currently up 31 points.

In the Forex:

  • EURUSD. The EURUSD initially dip below its 200 are moving average at 1.05636 but that was short-lived. The price has now shot higher and moved to the 50% midpoint of the move down from the September high at 1.06087 (and near a swing high area up to 1.0616). The price has since moved back down and currently trades at 1.0591.
  • USDJPY: The USDJPY remains above the 100 hour MA after dipping toward that key technical level at 149.668. It still takes a move below that level to increase the bearish bias. ON the top side the price remains below the 150.00 level.

Technically, the NASDAQ index moved up toward the 100-hour moving average of 13389.90, and the swing area between 13364.74 to 13382.98 and found willing sellers.

See my pre-speech video on these three instruments.

This article was written by Greg Michalowski at Source