Fedspeak Monitor 11/10/24
Powell made the headlines with his rejection of any notion that President-elect Trump could force him to leave, but beyond that the November FOMC press conference was fairly boring (in a good way).
Powell made the headlines with his rejection of any notion that President-elect Trump could force him to leave, but beyond that the November FOMC press conference was fairly boring (in a good way).
After the excitement at the September meeting, November is going to be relatively less exciting.
This is the last chance for Fedspeak before the pre-November meeting blackout period. This week we mostly heard from the hawkish side of the committee, all of whom are emphasizing a gradual path of rate cuts.
A quiet week of Fedspeak, with Waller and Bostic expressing disappointment in the September inflation data.
With fears of rising unemployment falling a bit with the September jobs data, the Committee's focus shifts back a bit towards inflation. As with before the September rate cut, the Committee is divided in its confidence around inflation's path back to 2%.