Fed Chair Not Likely to Stir Things Up Tomorrow

Fed Chair Jerome Powell isn't likely to upset the financial markets tomorrow if he says what he said at his press conference last week.

The word “disinflation” was uttered 11 times at Powell’s presser on February 1. He was the only one who mentioned the word at his presser. He repeatedly acknowledged that inflation was moderating but still had a ways to go before reaching the Fed’s 2.0% target. Nevertheless, Powell sounded much less hawkish than during his previous presser on December 14, 2022, when the word was mentioned only twice, both times by reporters. Here are three excerpts from Powell’s February 1 presser: