{"id":1959263,"date":"2023-06-28T13:27:02","date_gmt":"2023-06-28T17:27:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-powell-predicts-further-restriction-including-rate-hikes-at-consecutive-meetings\/"},"modified":"2023-06-28T13:28:16","modified_gmt":"2023-06-28T17:28:16","slug":"feds-powell-predicts-further-restriction-including-rate-hikes-at-consecutive-meetings","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-powell-predicts-further-restriction-including-rate-hikes-at-consecutive-meetings\/","title":{"rendered":"Powell foresees more &#8216;restriction&#8217; ahead, with consecutive rate hikes."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffeds-powell-predicts-further-restriction-including-rate-hikes-at-consecutive-meetings%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1959263&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<h2>Federal Reserve Chair Jerome Powell Warns of More Monetary Policy Restrictions<\/h2>\n<p>In a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-big-lie-the-new-york-times-bestseller-list\/\" title=\"The Big Lie: The New York Times Bestseller List\">recent panel discussion<\/a> at a European Central Bank (ECB) forum, Federal Reserve Chair Jerome Powell delivered a cautionary message to the U.S. economy. He stated that more monetary policy restrictions should be expected and that inflation will not return to its 2 percent target for a couple more years.<\/p>\n<p>Powell emphasized that while policy has not been restrictive for a long time, the recent move into restrictive territory is just the beginning. He believes that there is more restriction to come, as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/slower-u-s-job-growth-anticipated-in-september-labor-market-still-tight\/\" title=\"Slower U.S. job growth anticipated in September; labor market still tight\">labor market conditions remain tight<\/a> and economic growth has been unexpectedly resilient.<\/p>\n<p>According to Powell, the key inflation gauge for the Federal Reserve is non-housing services inflation, which includes travel, food, financial, healthcare, and hotel services. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-accelerates-as-us-service-activity-expands-for-first-time-in-eight-months-sp-global\/\" title=\"Inflation Accelerates as US Service Activity Expands for First Time in Eight Months: S&#038;P Global\">annual services inflation rate<\/a> has slowed for the third consecutive month, standing at 6.3 percent in May. Powell stressed the need for progress in this area, particularly in aligning supply and demand in the labor market and softening labor market conditions to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/business-leaders-report-first-output-contraction-since-2020-as-consumers-get-pinched-by-inflation\/\" title=\"Business Leaders Report First Output Contraction Since 2020 As Consumers Get Pinched By Inflation\">alleviate inflationary pressures<\/a>.<\/p>\n<p>Despite leaving the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-powell-predicts-further-restriction-including-rate-hikes-at-consecutive-meetings\/\" title=\"Powell foresees more 'restriction' ahead, with consecutive rate hikes.\">benchmark fed funds rate unchanged<\/a>, Powell did not rule out rate hikes at consecutive meetings. However, he did express that it would be appropriate to slow the pace of rate hikes.<\/p>\n<p>Looking ahead, Powell does not anticipate core inflation, which excludes volatile food and energy components, to reach the Fed&#8217;s 2 percent target until 2025. He acknowledged that inflation has proven to be more persistent than expected.<\/p>\n<p>On the topic of the balance sheet, Powell confirmed that quantitative tightening is progressing as planned. The Fed is currently trimming its approximately $8.4 trillion balance sheet at a pace of $1 trillion per year.<\/p>\n<h2>Bank Stress<\/h2>\n<p>Powell also addressed concerns about the U.S. banking system<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chair Jerome Powell warned of upcoming monetary policy restrictions and projected that it would take a few more years for inflation to reach its 2 percent target. Speaking at an ECB forum, Powell emphasized that policy measures have not yet achieved the desired outcomes.<\/p>\n","protected":false},"author":278,"featured_media":1959264,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1959263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1959263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1959263"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1959263\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1959264"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1959263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1959263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1959263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}