July 05, 2024 at 04:02PM
Further progress seen on inflation this year but still need ‘greater confidence’ before moving to cut rates
Housing-related inflation to gradually decline
Still significant disparities in the jobs market
Financial system sound and resilient
Valuations high relative to fundamentals in major asset classes
Full report
“Inflation eased notably last year and has shown modest further progress so far this year”.
“The labor market continued to rebalance over the first half of this year, and it remained strong”.
“Real GDP growth is reported to have moderated in the first quarter after having increased at a robust pace in the second half of last year”.
“Measures of longer-term inflation expectations are within the range of values seen in the decade before the pandemic and continue to be broadly consistent with the FOMC’s longer-run objective of 2 percent”.
“Personal consumption expenditures price inflation slowed notably last year and has shown modest further progress this year, it remains above the FOMC’s longer-run objective of 2 percent”
The Federal Reserve’s Monetary Policy Report is a semiannual report submitted to Congress. It’s an overview of the nation’s economic and financial conditions, as well as the Federal Reserve’s monetary policy actions and plans but it’s rarely a market mover.
This article was written by Adam Button at www.forexlive.com.