Powell On Latest CPI Data: 'Was Certainly Encouraging'

IconCryptoNewsTerminal Staff13 Jun, 2024

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Powell On Latest CPI Data: 'Was Certainly Encouraging'

Federal Reserve Chair Jerome Powell said in a press conference after the FOMC meeting today that “the CPI data we got this morning (which came in below expectations) was certainly encouraging. We had a briefing on the preliminary CPI data this morning, and participants could adjust their SEP if they wanted to base on the new CPI data. Most, however, did not change their projections”. Powell added that the FOMC is “committed to bringing inflation back down to our 2% target”. “We are closely monitoring the data and will adjust our policy stance as appropriate”, he said.

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