Jerome Powell’s points during his speech at the Economic Club of New York

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  • Political violence is unacceptable in the United States, and we are glad that Trump is safe.
  • The U.S. economy has shown outstanding results over the past couple of years.
  • Data from the second quarter strengthens confidence in reducing inflation.
  • The current economic growth rate is 1.5% per year, comparable to pre-pandemic levels.
  • Today, I will not signal a possible rate cut at a specific meeting.
  • The Fed’s task is to make decisions based on data, not on the election cycle; we are not politicians.
  • Our actions during the pandemic will go down in history.
  • An inflation rate of 2% has become a global standard that all countries strive for.
  • The Fed has independence and enjoys bipartisan support.
  • I will remain in my position until May 2026.
  • There is a path to reducing inflation without significant damage to the labor market.
  • We do not intend to prematurely lower rates and then raise them; we will wait for confidence in the economic indicators.
  • Increasing the national debt leads us down an “unsustainable path.”

  • We see that the economy is on a path to stability and sustainable growth.
  • The Fed’s primary priority remains maintaining price stability and maximum employment.
  • The international community is also striving to achieve a 2% inflation rate.
  • Our policy is aimed at long-term sustainability and economic well-being.
  • We continue to analyze data to make the most informed decisions.
  • Recognition of our efforts during the pandemic underscores the importance of timely and effective actions in crisis situations.
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