📈 🇺🇸 FOMC September meeting summary:
• The economy has strengthened, supported by durable spending, positive investment, and a labor market close to full employment.
• Warsh said it is “very difficult” to describe current financial conditions as tightening. This is also the view shared by most FOMC members.
• The Fed raised interest rates to remove “part of the support” for the economy and bring financial conditions in line with its objectives.
• Inflation remains “too high,” and summer data show no significant improvement yet.
• With the labor market still stable, price stability is currently the Fed’s top priority.
• Warsh provided no signal of a next rate hike and said he “does not work in the area that provides guidance on future policy.”
• He emphasized that monetary policy will respond to broader trends. Relying on individual data reports is “dangerous.”
• Stronger growth, persistent inflation, and geopolitical risks are key factors behind the Fed’s unanimous decision.
• Warsh rejected the view that the market led the rate-hike cycle, stressing that this was an independent Fed decision.
• He said the Fed does not need to weaken the labor market in order to bring inflation down.
• The economy has strengthened, supported by durable spending, positive investment, and a labor market close to full employment.
• Warsh said it is “very difficult” to describe current financial conditions as tightening. This is also the view shared by most FOMC members.
• The Fed raised interest rates to remove “part of the support” for the economy and bring financial conditions in line with its objectives.
• Inflation remains “too high,” and summer data show no significant improvement yet.
• With the labor market still stable, price stability is currently the Fed’s top priority.
• Warsh provided no signal of a next rate hike and said he “does not work in the area that provides guidance on future policy.”
• He emphasized that monetary policy will respond to broader trends. Relying on individual data reports is “dangerous.”
• Stronger growth, persistent inflation, and geopolitical risks are key factors behind the Fed’s unanimous decision.
• Warsh rejected the view that the market led the rate-hike cycle, stressing that this was an independent Fed decision.
• He said the Fed does not need to weaken the labor market in order to bring inflation down.
