The main points of Fed Chairman J. Powell's speech are unchanged:
▪️ FOMC is committed to getting inflation back to 2.00% to ensure price stability (current CPI of 6.00%);
▪️ Inflation in commodity prices is declining, but progress in services is still insufficient;
▪️ U.S. banking system remains strong and resilient; FED sees everything, has a hand on the pulse and controls the process)
▪️ Another +0.25% rate hike possible at next FOMC meeting 03.05.2023, but it will all depend on incoming macro data;
▪️ A Fed rate cut this year is not a base case scenario;