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Investing.com – US Federal Reserve Chairman Jerome speaks at the European Central Bank conference on central banking.
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And it declines before talking, and records 1,910 ounces in instant transactions. Here are the expectations:
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ECB raised by 400 basis points, depends on data ECB meeting will raise rates in July, but for September ECB President Christine Lagarde does not know if rate hike will pass Monetary policy has not been tightened for a long time And therefore, it will remain tight for a longer period, according to Federal Reserve Chairman Jerome Powell. Monetary policy is not tight enough, and members expect to raise it twice or more during the current year, with the strength of the economy and the strength of the labor market, according to Powell. The labor market will push us for more monetary tightening, according to Powell, I expect it to be There are successive meetings to make moving decisions, Jerome Powell, the European Central Bank, does not think of temporarily stopping raising interest rates, Lagarde Powell: commodity price inflation has been declining for 6 months as supply chains improve, consumption shifts to services, the housing market is declining to a lesser degree, but it takes 12 months to reduce it Powell, the services market is still very high, and here we do not see any progress in declining inflation. Powell, the labor market must weaken and we must see a balance between supply and demand to ease inflation pressures. Monetary policy has not been tight for a long enough period of time, Powell our main scenario does not include entering the economy into a recession, Lagarde the US economy is strong, and the data is consistent with an economy that is growing strongly, Powell we moved very quickly to raise interest rates, and the interest rate is now in the area of monetary tightening, Powell
(Definition of stress zone: It is to deliberately slow down the growth of the money supply to slow down the economy. The goal of the tightening policy is to control inflation.) We reduced the speed of our movement to raise interest rates to absorb more information, avoid risk and achieve balance. Powell, there is more interest rate hikes. Powell Covid caused the commercial real estate crisis, and this crisis will continue among other crises. Paul does not I think inflation will return to 2% this year or next, Powell
Market monitoring
It is falling more strongly, to record spot contracts at $1,904 an ounce, which is an important support level. And futures contracts fell by $ 1,913 an ounce.
The US Dollar Index records 102.590, an increase of 0.46%.
down by 0.37%. The American declines to 67.36 dollars per barrel, and declines by 0.54% to 72.11 dollars per barrel.
It declines to 1.0939, with a decrease of 0.20%.
2023-06-28 13:37:00
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