BREAKING: FED Chair Jerome Powell Holds a Press Conference Following the Interest Rate Decision – LIVE

Following the Fed’s decision to keep interest rates unchanged, Fed Chairman Jerome Powell is making important statements live on air.

Here are the details from Powell’s press statement:

• High inflation is partly reflected in rising energy prices.
• The current monetary policy stance is appropriate.
• Events in the Middle East have increased uncertainty.
• PCE inflation is expected to be 3.5% in March.
• Inflation expectations have risen recently.
• Long-term inflation expectations are consistent with the 2% target.
• The economic outlook is highly uncertain.
• This is my last press conference as chairman. Congratulations, Warsh.
• Federal Reserve Chairman Jerome Powell welcomed the Justice Department’s announcement last Friday that the investigation was being closed. Over the past weekend, the Justice Department had given assurances that the investigation would not be reopened unless a criminal prosecution request was made.
• I stand by my opinion and I will not leave here until the Justice Department’s investigation is completely finished.
• I will continue my duties as a member of the Federal Reserve Board of Governors for a specified period. I will perform my duties as a board member in a humble manner.
• I will leave the Fed when I think the time is right.
• Reaching consensus with 19 committed individuals (colleagues) is very difficult.
• I had planned to retire a long time ago, but recent government decisions have left me with no other option.
• The rise in energy inflation has not yet peaked.
• Before considering lowering interest rates, we definitely want to examine other aspects of energy and tariffs as well.
• The number of officials supporting a neutral stance has increased.
• At the next meeting, we may consider changing the current loose monetary policy stance.
• The number of people who believe that the probability of an interest rate increase is almost equal to the probability of an interest rate decrease has increased.
• Nobody is saying we need to raise interest rates right now.

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*This is not investment advice.