Federal Reserve officials suddenly "turn hawkish": There is a possibility to pause interest rate cuts starting from December!
① The president of the St. Louis Federal Reserve Bank, Musailem, stated that pausing interest rate cuts as early as this month may be appropriate, emphasizing that data will guide the decision; ② he hopes to keep all options available before the Fed's December meeting, supporting a gradual reduction in interest rates and taking a patient approach.
The Brown Book reveals the hidden concerns beneath the glossy surface of the usa economy: Consumers are becoming increasingly sensitive to prices.
Economic growth expectations in most regions are "moderately rising"; the Federal Reserve pointed out that consumer price sensitivity is further increasing.
Powell once again emphasized that there is no need for rapid rate cuts, a more cautious approach can be taken.
Powell reiterated that the Federal Reserve does not feel an urgent need for rapid interest rate cuts due to the uncertain inflation outlook and the current robust economic performance.
Powell: The economy is stronger than expected, the Federal Reserve can 'be more cautious' in cutting interest rates, the Trump administration cannot appoint a shadow Fed chairman.
Powell stated that the economic growth is stronger than expected when the Federal Reserve first cut interest rates in September, and there is no reason not to continue being strong. Inflation has slightly risen, so the Fed can be more cautious in cutting rates while seeking the neutral rate level. Powell is not worried about the risk of losing the Fed's independence, confident in having a good relationship with the Trump administration. It is too early to determine the impact of Trump's tariffs and other policies on the economy and interest rate outlook.
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