Semiannual Monetary Policy Report to the Congress
· Jerome H Powell, Chair of the Federal Reserve (United States)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, financial stability, labour markets and jobs
JH · Jerome H Powell Wiki · Federal Reserve WikiSemiannual Monetary Policy Report to the CongressContextSemiannual testimony of Jerome Powell before the House Committee on Financial Services, presenting the Monetary Policy Report to Congress.
Why it mattersPowell tells Congress that more hikes are likely this year.
Problems raised- Inflation remains well above 2%.
- The labour market remains very tight.
- Recent bank stress may tighten credit conditions.
Solutions proposed- Continue tightening as needed to return inflation to 2%.
- Consider the cumulative tightening and policy lags.
- Monitor credit conditions after bank failures.
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