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Powell: No Baseline Forecasts Predict Rate Hike as Next Policy Action; Gold Rally Unrelated to Fed's Credibility
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Federal Reserve Chairman Jerome Powell stated at the interest rate meeting press conference that no one's baseline scenario is forecasting the next policy action to be a rate hike, according to media reports. He added that officials are evaluating the next policy direction following last year's consecutive rate cuts. Regarding gold prices hitting new highs repeatedly, Powell denied that it was triggered by the Fed's loss of credibility as some might argue. He stressed that the Fed's credibility is at the appropriate level if one observes the trend of inflation expectations. Although it is true that the Fed is monitoring asset price fluctuations, it won't overreact to changes in specific asset prices. AAStocks Financial News |
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