Fed Chairman Jerome Powell holds press conference following interest rate decision – Live

Following the Fed’s decision to keep interest rates on hold, Federal Reserve Chairman Jerome Powell is making important remarks on live television.

Details of Mr. Powell’s press statement are below.

• High inflation is partly reflected in higher energy prices.
• The current monetary policy stance is appropriate.
• Events in the Middle East have increased uncertainty.
• PCE inflation is expected to be 3.5% in March.
• Inflation expectations have been rising recently.
• Long-term inflation expectations are consistent with the 2% target.
• The economic outlook is highly uncertain.
• This will be my last press conference as chairman. Congratulations, Warsh.
• Last Friday, Federal Reserve Chairman Jerome Powell welcomed the Justice Department’s announcement that it was closing its investigation. The Justice Department gave assurances over the weekend that the investigation would not be reopened unless there is a request for criminal prosecution.
• I stand by my opinion and will not leave until the Department of Justice investigation is fully concluded.
• I will continue to serve as a member of the Federal Reserve Board for a period of time. I will humbly carry out my duties as an officer.
• I intend to leave the Fed when I decide the time is right.
• It is very difficult to reach an agreement with 19 committed individuals (colleagues).
• I had intended to retire a long time ago, but recent government decisions have left me with no other choice.
• The rise in energy inflation has not yet peaked.
• You’ll definitely want to consider other aspects of your energy and rates before considering a lower interest rate.
• A growing number of officials support a neutral position.
• The next meeting may consider changing the current accommodative monetary policy stance.
• An increasing number of people believe that the probability of interest rates rising is approximately equal to the probability of interest rates falling.
• No one is saying we need to raise interest rates right now.

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*This is not investment advice.