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Bloomberg Surveillance

Instant Reaction: Jay Powell on Fed Policy

Bloomberg Surveillance

Bloomberg

News, Business, Business News, Investing

3.81.2K Ratings

🗓️ 26 July 2023

⏱️ 28 minutes

🧾️ Download transcript

Summary

Bloomberg's Tom Keene, Jon Ferro and Lisa Surveillance discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision. 

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Transcript

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1:00.0

This is Bloomberg surveillance with Tom Keene, Jonathan Farrow, and Lisa Abramowitz on Bloomberg Radio.

1:11.8

This was Operation Say Nothing, where you basically repeat data dependent over and over again,

1:16.5

but didn't say which data, and then you basically had a little bit for everybody,

1:20.1

basically saying they are concerned about inflation, but recognizing that inflation has come in somewhat.

1:26.2

This was Operation, do no Harm, and say nothing,

1:29.4

and get out of there as quickly as possible, which he just did. Highly repetitive, sometimes tedious

1:33.4

in the bond market. Yields were higher going into this decision. Lower following it, the two-year

1:38.8

yield is down to Tom by about three or four basis points in the bond market right now. TK. 483.91. Some yield was as good to see

1:45.4

Gina Smilick of the New York Times pulling the Barbie movie here to give us the spirit of the

1:49.6

American economy. January 31, 2024. Is he going to have a Lagarde-like press conference

1:57.8

first of the year for the Fed like like tomorrow's Lagarde press conference,

2:04.0

if he gets a GDP slowdown, as we heard Bob Michael and Andrew Hollenhorst talk about.

2:08.9

I'm fascinated about the luxury he has right now of a buoyant American economy, and if that

...

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