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Chairman of the Federal Reserve Jerome Powell spoke Friday on the “Perspectives on Monetary Policy” panel at the Thomas Laubach Research Conference hosted by the central bank in Washington, DC
The statements come with markets suddenly divided over where the Fed is coming from. Market prices are shown on Friday morning about a 35% probability The Fed may approve another interest rate increase when it meets in June, according to CME Group.
Shown in new data a strong economy and labor market and inflation which, while decreasing from the peak in 2022, is still the same above the Fed’s 2% target.
In recent days, regional presidents Lorie Logan of Dallas and Loretta Mester of Cleveland have shown a stronger inclination to raise, while Austan Goolsbee of Chicago and Raphael Bostic of Atlanta have supported more cautious approach.
The Fed will next week release minutes from its meeting earlier in May where it approved the 10th rate hike since March 2022.
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