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The Federal Reserve Chairman Jerome Powell delivered a speech on current economic circumstances and the FED's attempts to reduce inflation through rate increases and fiscal policies. The statements are usually significant because they may provide a lot of insight into what the FED is thinking and how they might proceed with impending rate rises. The rises can have a significant impact on markets, therefore any word about the markets can create significant fluctuation and uncertainty:
Substantial turnaround in consumption and expenditure following a period of contraction.
The Fed is determined to increase borrowing costs further if data warrants it.
Inflation will most certainly continue, although at a slower pace.
Although the numbers do not indicate quite so many rate rises, more is necessary.
