Gold price jump as Fed Chair Powell maintains 'disinflation' comments, stresses the process will take 'significant period of time' Fed Powell economy
The gold market was volatile after Federal Reserve Chair Jerome Powell reiterated that the"disinflation process" has begun but highlighted that getting inflation down to 2% will take a"significant period of time."The markets wanted to hear what Powell had to say about the massive job gains the U.S. economy saw in January, and the Fed chair delivered.
A lot of what happens this year depends on the incoming data. And if inflation surprises on the upside, the Fed will be raising rates more than the markets are currently expecting, he pointed out Powell admitted that sometimes he gets to see the macro data the night before the official release."If data comes out during the FOMC meeting, for example," he clarified.
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