Jinshi Data Compilation: Five Key Points of Today's Speech by Federal Reserve Chairman Powell

GoldenOctober2024 · 2024-07-15T18:22:23+00:00

1. Intrerest Rate Guidance: Powell refused to give any guidance on the timing of Intrerest Rate changes, stating that policymakers will hold meetings gradually. Nick Timiraos, the 'Fed megaphone', wrote that Powell's wording did not change expectations of 'holding steady' in August. In addition, Powell warned that the US budget is on an unsustainable path and requires bipartisan action to address the deficit. 2. Economic Data: Powell stated that second-quarter economic data, including last week's consumer price report, has indeed increased confidence to some extent, and the labor market is currently in a 'better balanced state'. Unexpected weakness in the labor market will also be a reason to adjust Intrerest Rates. 3. Term Issue: Powell stated that he plans to complete his entire term, which is scheduled to end in May 2026. 4. Assassination Attempt: Powell condemned the recent violent acts against Trump and expressed relief that Trump's injuries were not serious. 5. Market Reaction: As Powell basically reiterated the same themes as a week ago, the market reaction was flat. The stock market continued to rise, the yield on the 10-year US Treasury rose 4 basis points to 4.23%, Spot gold rose and then fell back, and as of the time of publication, it was at $2423.30 per ounce.

GoldenOctober2024

2024-07-15 18:22:23

Abstract generation in progress

Intrerest Rate Guidance: Powell refused to give any guidance on the timing of Intrerest Rate changes, stating that policymakers will hold meetings gradually. Nick Timiraos, the 'Fed megaphone', wrote that Powell's wording did not change expectations of 'holding steady' in August. In addition, Powell warned that the US budget is on an unsustainable path and requires bipartisan action to address the deficit. 2. Economic Data: Powell stated that second-quarter economic data, including last week's consumer price report, has indeed increased confidence to some extent, and the labor market is currently in a 'better balanced state'. Unexpected weakness in the labor market will also be a reason to adjust Intrerest Rates. 3. Term Issue: Powell stated that he plans to complete his entire term, which is scheduled to end in May 2026. 4. Assassination Attempt: Powell condemned the recent violent acts against Trump and expressed relief that Trump's injuries were not serious. 5. Market Reaction: As Powell basically reiterated the same themes as a week ago, the market reaction was flat. The stock market continued to rise, the yield on the 10-year US Treasury rose 4 basis points to 4.23%, Spot gold rose and then fell back, and as of the time of publication, it was at $2423.30 per ounce.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

3 Likes

Reward
3
Comment
Share

Comment

0/400

No comments

Topic
BTC Hits New High
85k Popularity
ETH Breaks $3,000
39k Popularity
VIP Exclusive Airdrop Carnival
14k Popularity
4My Gate Moments
12k Popularity
5Fed June Meeting Minutes
5k Popularity
6Pump.Fun Debuts on Gate
4k Popularity
7Trump Tariff Hikes
16k Popularity
8Gate xStocks Trading Share
22k Popularity
9HK Stablecoin Rules
13k Popularity
10Truth Social Crypto ETF
3k Popularity

sitemap