SUMMARY OF FED CHAIR POWELL'S STATEMENT
1. Inflation is "much closer" to 2% Fed target
2. Activity in the housing market has been weak
3. Wage growth in the United States has eased
4. Labor market is not a source of inflation pressures
5. Fed can be more cautious in reducing interest rates
6. Inflation expectations remains "well anchored"
The "Fed pivot" is taking another pause.
