PLW - January FOMC Meeting: A Pause But (Probably) Not The End Of The Tightening Cycle
Leading into Wednesday's Federal Open Market Committee ((FOMC)) decision, Chair Jerome Powell and a host of regional Federal Reserve (the Fed) bank presidents had unanimously expressed support for a pause in the Fed's tightening cycle. Even perma-hawk Esther George, from the Federal Reserve Bank of Kansas City, advocated for a cautious and patient approach to monetary policy in her speech a few weeks ago.1
In a press conference Wednesday following the conclusion of the FOMC meeting, Powell stuck to the script and emphasized the Fed is waiting patiently to see how the economy evolves.