Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.
Key takeaways Total scope of data suggest normalizing labor market. Job vacancies are still high by historical standards. Can't look to history as a guide to future. The picture is not one of a really bad economy, just spots of weakness. We don't change our approach according to political calendar. We never use our tools to support or oppose a politician or party. If we stick to our part, it benefits all Americans. That's what we believe and is how we always operate.
It is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
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