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On September 17, the Chairman of the U.S. Federal Reserve Warsh stated that the Federal Open Market Committee (FOMC) currently does not believe that inflation is approaching the 2% target, and that inflation today is too high and has persisted for too long.
Warsh pointed out that the economic data released in the summer showed no improvement in the inflation situation, and that too many commodities still saw price increases of more than 3% over the past six and twelve months. He said that at the July meeting, the FOMC believed inflation was still too high and expressed readiness to take action.
At the same time, Warsh said that the U.S. labor market remains an important indicator of economic strength, with the unemployment rate staying low, both employment and hours worked increasing, the flow of credit funds remaining strong, and the overall economy demonstrating resilience.
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On September 17, the Chairman of the U.S. Federal Reserve Warsh stated that the Federal Open Market Committee (FOMC) currently does not believe that inflation is approaching the 2% target, and that inflation today is too high and has persisted for too long.
Warsh pointed out that the economic data released in the summer showed no improvement in the inflation situation, and that too many commodities still saw price increases of more than 3% over the past six and twelve months. He said that at the July meeting, the FOMC believed inflation was still too high and expressed readiness to take action.
At the same time, Warsh said that the U.S. labor market remains an important indicator of economic strength, with the unemployment rate staying low, both employment and hours worked increasing, the flow of credit funds remaining strong, and the overall economy demonstrating resilience.
$BR
$SYN
$LSK