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Fed's Powell: We need to be patient, not seeing disinflation in services sector
FED'S POWELL: WE NEED TO BE PATIENT, NOT SEEING DISINFLATION IN SERVICES SECTOR.
— Breaking Market News (@financialjuice) February 7, 2023
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POWELL: U.S. IS ON AN UNSUSTAINABLE FISCAL PATH, THAT WILL NEED TO BE ADDRESSED
— Breaking Market News (@breakingmkts) February 7, 2023
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Fed’s Powell:
— *seven (@sevenloI) February 7, 2023
- U.S. "Just at the Beginning" of the Disinflation Process
-Not Seeing Disinflation in Housing Yet, but Expect That to Happen in the 2H of This Year
-Worry Most About When Disinflation Will Take Hold in the Larger Services Sector, Also Concerned About Outside Events
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Fed's Powell:
— *seven (@sevenloI) February 7, 2023
- Reopening Of China, Ukraine War Affect Inflation Path
- Fed Wants to Be Transparent, Not Surprise Markets by Decisions
- To Get Inflation Down, Most Analysts Would Say Need Some Softening in Labor Market Conditions
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Fed's Powell:
— *seven (@sevenloI) February 7, 2023
- This Cycle May Be Different; Labor Market Remains Strong While Wages Are Moderating
- Likely to See Some Softening in Labor Market Conditions
- Wage Increases Have Come Down to a Level That's Closer to Sustainable