Powell said U.S. central bankers are moving carefully on policy now after aggressive rate hikes last year to give time for tighter conditions to slow the economy and inflation.
"Quite clear that the market is reading into Powell's comments on tighter financial conditions potentially leading to the tightening cycle being done and dusted.
Obviously other FOMC officials have said similar, but hearing so 'from the horse's mouth' gives the statement extra credibility."
The tone was a bit more dovish than other Fed officials recently.
"It's hard to make too much of a determination about what happens with knee jerk reactions immediately after any type of Fed comments ...
Persons:
Jerome Powell, Powell, MICHAEL BROWN, MICHAEL JAMES, There's, CHRIS ZACCARELLI
Organizations:
U.S, Treasury, ALLIANCE, Global Finance, Markets, Thomson
Locations:
U.S, CHARLOTTE, NC