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18:52
Fed Chair Powell: Forward Guidance AbandonedBlockBeats News, June 18th, Federal Reserve Chair Powell stated, "We have now abandoned forward guidance and cannot provide any forward guidance on the next steps. The dot plot is done in pencil and it can be erased. A comprehensive review of communication practices, including press conferences, dot plots, and meeting schedules, is expected to be conducted by the end of the year." (FXStreet)
18:37
Fed Chair Powell: Inflation Well Above 2% Target, No Dot Plot Projection Provided TodayBlockBeats News, June 18th, Federal Reserve Chair Powell stated that the goal is to correctly implement monetary policy amid inflation well above the 2% target. Recent history should not be a prelude to an inflation problem, and no updated Summary of Economic Projections was provided today. He agreed that forward guidance may not be well-suited for the current situation. (Kryptonite)
18:34
Federal Reserve official Waller stated that the goal of monetary policy formulation is to introduce appropriate policies that meet actual needs.At present, in the process of adjusting its monetary policy, the Federal Reserve conducts a comprehensive assessment based on multiple indicators such as the level of inflation, performance of the employment market, and momentum of economic recovery, to ensure that policy measures are appropriate for the actual economic conditions and to guarantee steady and healthy economic development.
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