
Summary of Key Points from Powell's July Press Conference
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Monetary Policy
No decisions were made regarding the September FOMC monetary policy meeting.
Those who disagreed with the July Federal Reserve decision statement will disclose relevant information in the next day or two. -
Inflation
The process of inflation retreating towards the 2% target is already halfway.
Service inflation has significantly slowed down, while goods inflation is rising.
Facing a long-term housing supply shortage, the U.S. has not built enough housing. -
Employment
No signs of weakness in the labor market have been observed. -
Tariffs
The process of tariffs being passed through to prices may be slower than previously expected.
It is still too early to assess the impact of Trump tariffs on inflation.
What is currently seen is merely the beginning of tariff inflation, and subsequent inflation data is expected to reflect more tariff impacts.
It is not possible to isolate the impact of tariffs on inflation issues.
Certain companies will benefit from Trump tariffs. -
Retention Issues
No information has been disclosed regarding whether the Federal Reserve Chair will continue to serve after the term ends