If you want more rescue of your loan, don't stop your breath -Fed a few days after President Donald Trump calls to the central bank to lower the Fed. Not expected.
The Federal Preparatory System on Wednesday has announced that it will leave interest rates within inflation and economic situation without changing interest rates.
With the decision of the Fed, benchmark federal funding remains in the range of 4.25 % to 4.5 %, following the Central Bank's latest meeting three consecutive rates. -Most reduction in November and December.
“Recent indicators suggest that economic activities are continuing to expand at a solid pace,” wrote members of the Federal Open Market Committee (FOMC), a group responsible for the Fed's monetary policy. I am. “In the past few months, the unemployment rate has been stable at a low level, and the status of the labor market remains strong. The inflation has been a little rising.”
FOMC's statement stated that the FRB has been pursuing a double mission of achieving the largest employment and inflation over the long term. “The economic outlook is uncertain, and the committee is paying attention to the risks on both sides of the double mission.”
The FOMC members were unanimous to the decision to leave a fee that was not changed at this time. The committee's statement added that the policy creator added that “if there is a risk that can hinder the goal of the committee, we are ready to properly adjust the attitude of the currency policy.” , In addition to the range of information such as inflation pressure and expectations, it was added. And financial and international development in consideration of the following movements.
Fed chairman Jerome Powell said at a press conference after the announcement, saying, “Overall, it suggests that the conditions in the labor market are well balanced. The labor market is not a source of major inflation pressure. However, it has been raised a lot in the last two years.
Powell pointed out that the Fed has reduced interest rates in all points in three previous meetings, and that re -adjustment is appropriate for “inflation progress and the rebalancing in the labor market.”
“Our stance is much less restricted than before and the economy remains powerful, so you don't have to hurry to adjust your policy attitude,” Powell said. “I know that the policy is too fast or too much can hinder the progress of inflation, and at the same time, if the policy control is too small, economic activities and employment may weaken unreasonably. I am.
Powell asked if he asked if Trump had informed him of his request last week, and he said he had responded to Donald Trump's comments to the World Economic Forum last week to “request” to lower interest rates. I was asked. Whether he has the reaction or whether the president has such a comment.
“I don't have any reply or comments on what the president said, but it's not appropriate for me, but the general public keeps working as we always have. We need to be convinced that our goals and to really bow and work are how we serve the best in the general public. I said.
In response to follow -up questions, Powell added that he was not in contact with President Trump.
Powell also asked how he and the federal government could relieve the central bank independently of the Central Bank from politics.
“As I have said many years -this is us, this is our job. We study data and how it affects the balance between prospects and risks. We analyzed and try using our tools, and we said our best ways to achieve our goals to give our best understanding. ” “That's what we are always doing. Don't look for us to do other things.”
“Many studies have shown that the central bank is the best way to operate. It has the best opportunity to achieve these goals for the interests of Americans. Give me, Powell added.
Powell was asked by Fox Business Edward Lawrence about the impact of immigration policy on unemployment, taking into account the comments that illegal immigrants have contributed to the increase.
“What is happening is that the flow across the borders has decreased significantly, and there are all reasons that expect it to continue, and so far, the creation of employment has decreased a little. The chairman explained that the unemployment rate is stabilized.
This is a developing story. Please confirm the update.
