Instant Reaction: Jay Powell on the Fed Decision
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 19 March 2025
⏱️ 28 minutes
🧾️ Download transcript
Summary
Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, caught between mounting concerns that the economy is slowing and inflation could remain stubbornly high.
Chair Jerome Powell acknowledged the high degree of uncertainty from President Donald Trump’s significant policy changes, but repeated the central bank is not in a hurry to adjust borrowing costs. He said officials can wait for greater clarity on the impact of those policies on the economy before acting.
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| 1:12.3 | Chairman Pell, fascinating news conference, the most interesting news conference we've seen |
| 1:16.9 | with the Fed Chair in quite a while. |
| 1:18.9 | Let's start with the price action. |
| 1:20.5 | A big portion of uncertainty with a sprinkle of transit tree. |
| 1:24.0 | Equity markets rocketing. |
| 1:26.2 | We're up by 1.5% on the S&P 500 on the NASDAG up by 1.9. |
| 1:31.1 | On a Russell, up by close to 2. In the bond market, 2 year, 10, year, 30 year, yields down and down hard at |
| 1:36.6 | the front end of the curve by five basis points to 398. Check out the commodity market. |
| 1:41.5 | Gold, all-time highs, intradate up by about a third of 1%. |
| 1:46.5 | There's a couple of interpretations here. Here's one. It's the bad news. So they've downgraded the outlook for growth, but haven't responded by projecting additional cuts. Here's the good news. And this is what the market seems to be leaning on just a little bit more. And the Fed spoke to it. Based on the forecast, the Fed believes that any upward revision to inflation in 2025 won't |
| 2:06.2 | last beyond 2025 into 26, into 27. |
| 2:11.1 | On that and more, take a listen to what the Fed Chair had to say. |
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