Powell: A transitory rise above 2% inflation this year wouldn't meet standard of moderate overshoot

Comments from the Fed Chairman following the FOMC decision:

Comments from the Fed Chairman following the FOMC decision:
  • Will likely take 'some time' for substantial further progress to be achieved
  • It's not the time to start talking about a taper
  • Economy is a 'long way' from our goals

The US dollar sold off on the headline here and continued to drop after he said it's not the time to start talking about a taper.

This is dovish stuff.

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