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With the banking crisis hitting the markets, the Federal Reserve’s monetary policy might have less work to do, according to U.S. central bank Chair Jerome, who leaned more dovish during his press conference.
The biggest change in the Fed’s language after the Silicon Valley Bank fallout was a shift from expectations of “ongoing rate increases” to “some additional policy firming” may be needed.
“We no longer state that ongoing rate increases will be needed to quell inflation. Instead, we now anticipate that some additional policy firming may be appropriate,” Powell told reporters Wednesday.
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