(Finance) – The overall set of risks, positive and negative, on the achievement of monetary policy objectives “is moving towards a more balanced picture”. This was stated by Fed Chairman Jerome Powell in the press conference at the end of the FOMC, warning that “at the same time inflation remains too high and progress to lower it is not assured, while uncertainty remains high. We are determined to bring inflation back to the 2% target”.
As expected, the Federal Reserve announced unchanged rates, for the fifth time in a row. The American central bank, led by Jerome Powell, left the cost of money in the range between 5.25% and 5.50%. The Fed has economic growth forecasts have been revised upwards on the United States, while it has confirmed those on inflation, although the slight upward adjustment for next year to 2.2%, slightly above its target.
Powell added that Federal Reserve central bankers believe “it will probably be appropriate” to reduce dollar interest rates “at some point this year.”