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A summary of the Fed Chair Powell's major comments during his testimony on Capitol Hill

A summary of the Fed Chair Powell's major comments during his testimony on Capitol Hill
On Federal Reserve PolicyFed Chair Jerome Powell stated that the reverse repo facility has been decreasing since March and doesn't account for the decline in bank deposits. He mentioned that the reduction of the balance has been orderly and doesn't expect reserves to become scarce soon.Powell mentioned that tightening credit may act as a substitute for a rate hike and expressed that his forecasts align closely with the committee's predictions. He reiterated that a strong majority of the committe... Read More
Posted: Jun 22 2023, 16:19
Author Name: forexlive
Views: 081159

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