US Fed Chair Powell Testifies

post: POWELL: OFFER A NOTE OF CAUTION ON TODAY'S CPI READING; WE TARGET PCE INFLATION WHICH IS A BETTER MEASURE POWELL: WE'LL KNOW WHAT PCE READINGS ARE LATE TOMORROW, AFTER PPI DATA post: FED'S POWELL Q&A: CPI READING WAS ABOVE ALMOST EVERY FORECAST BUT DON'T 'GET EXCITED' ABOUT ANY ONE REPORT; TO KNOW WHAT PREFERRED PCE READING IS TOMORROW #Powell #FederalReserve #economy post: POWELL: MAKING CLEAR PROGRESS ON HOUSING SERVICES INFLATION, BUT NOT THERE YET POWELL: LAST FEW JOB REPORTS HAVE SHOWN SIGNIFICANT JOB CREATION, MAY HAVE TICKED UP AT END OF YEAR post: POWELL: DOT PLOT IS NOT FORWARD GUIDANCE IF DOGE ELIMINATED $1 TRLN OF SPENDING, HARD TO SAY HOW IT WOULD AFFECT THE ECONOMY WE HAVEN'T HEARD FROM DOGE NOT AWARE OF ANY LIMITS ON DATA FED NEEDS CLIMATE CHANGE MAY EMERGE OVER TIME AS A THREAT TO ECONOMY INSURANCE COMPANIES…

post: POWELL: UNDERLYING ECONOMY IS VERY STRONG post: FED'S POWELL SAYS DATA TODAY SHOW WE'RE CLOSE BUT NOT THERE ON INFLATION post: POWELL: WANT TO KEEP POLICY RESTRICTIVE FOR NOW

post: FED'S POWELL Q&A: REPEATS, RESERVING POLICY JUDGMENT ON TARIFFS UNTIL SEE WHAT THEY ARE AND THEIR EFFECT; BANK RESERVES ARE NOW 'ABUNDANT' #Powell #FederalReserve #economy post: FED'S POWELL: I'VE BEEN SOMEWHAT CONCERNED ABOUT TREASURY LIQUIDITY. post: FED'S POWELL: RETURN TO THE EFFECTIVE LOWER BOUND, NOT THE BASE CASE ANYMORE. post: FED'S POWELL: IN HINDSIGHT, WE PROBABLY COULD'VE HALTED QE EARLIER. post: FED'S POWELL Q&A: REPEATS, 'WAY TO GO' ON BALANCE SHEET SHRINKAGE; SO FAR, ABOUT $2 TRILLION SMALLER #Powell #FederalReserve #economy

post: POWELL: ASKED IF FED WOULD LET DOGE HAVE ACCESS TO FED DATA, SAYS WE'VE HAD NO CONTACT, NOTHING TO REPORT post: Fed’s Powell: No Changes To Own Commitment On Not Resigning If Asked By Trump post: FED'S POWELL Q&A: DIDN'T RAISE RATES IN 2021 BECAUSE THOUGHT HIGHER INFLATION WOULD BE TRANSITORY #Powell #FederalReserve #economy post: FED'S POWELL Q&A: RE TRUMP POSTING THAT RATES SHOULD BE LOWERED, WILL CONTINUE INDEPENDENT JUDGEMENT OF MONPOL #Powell #FederalReserve #economy post: FED'S POWELL: THE FED'S EMPLOYMENT MANDATE MAY LEAD TO HIGHER EMPLOYMENT.

post: POWELL: BELIEVE NEUTRAL RATE HAS RISEN FROM VERY LOW PRE-PANDEMIC LEVEL post: FED'S POWELL: CONCERN FOR THE LABOR MARKET HAS DIMINISHED CONSIDERABLY SINCE MID-LAST YEAR. post: Powell: The neutral rate was "clearly very low before the pandemic" and it is likely that after all of this, "the neutral rate will have risen meaningfully." "I think it has moved up. And many of my colleagues on the FOMC" also do. post: FED'S POWELL Q&A: SO FAR ELON MUSK'S DOGE HAS NOT ATTEMPTED TO PENETRATE FED SYSTEMS #Powell #FederalReserve #economy

post: POWELL: NOT FOR FED TO COMMENT ON TARIFF POLICY post: Powell is asked about the wisdom of certain uses of tariffs: "The standard case for free trade and all that largely still makes sense. It didn’t work that well when we had one very large country that doesn’t play by the rules." post: POWELL: CLEARLY NOT ALLOWED UNDER THE LAW FOR PRESIDENT TO REMOVE A FED BOARD MEMBER post: POWELL: RESERVES ARE STILL ABUNDANT SHRINKING BALANCE SHEET IS ONGOING WE ARE GOING TO LOOK AT CONDITIONS IN RESERVE MARKETS. TRYING TO STOP BALANCE SHEET SHRINKING WHEN A LITTLE ABOVE 'AMPLE' CAN'T GIVE AN EXACT NUMBER, STILL HAVE A WAYS TO GO WOULD USE QUANTITATIVE EASING… post: POWELL: BANK ACCOUNTS OVERALL ARE SAFE