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2025-09-18 03:25:20
Key Points from Federal Reserve Chairman Powell's Speech: Inflation has risen recently and remains relatively high. This year's rise is primarily driven by rising commodity prices, and the overall impact of tariffs on inflation remains to be seen. The labor market faces downside risks, though its current situation is not entirely due to immigration, and demand has clearly slowed. Both hiring and firing rates are currently low, and when more vulnerable groups face difficulties finding jobs, it indicates a weakening labor market. He believes there is no need for a rapid interest rate adjustment, and the idea of a 50 basis point rate cut today did not receive widespread support. The Bureau of Labor Statistics is working to address the factors behind the revisions to employment data, and the annual employment data revisions are almost exactly in line with expectations. The data the Fed receives from the Bureau of Labor Statistics remains sufficient to meet job needs, but a higher response rate is needed to reduce data volatility. He welcomes the new members of the Committee. With the addition of Milan, the Committee remains committed to fulfilling its dual mandate and firmly committed to maintaining the independence of the Federal Reserve. Ten of the 19 policymakers expect two or more rate cuts for the remainder of the year, while another 10 expect fewer. There is no new information on plans to remain at the Federal Reserve, and commenting on Cook's lawsuit would be inappropriate.
