XAUUSD Gold price surrenders recovery as Fed Powell speech ?
Key takeaways from Jerome Powell's speech at the Jackson Hole Symposium
"We intend to hold rates at restrictive level until confident inflation is moving sustainably down to 2%."
"Fed will proceed carefully when deciding to hike again or hold steady."
"Economic uncertainty calls for agile monetary policy-making."
"Fed will decide next rate moves based on data."
"Fed is attentive to signs the economy not cooling as expected."
"Inflation remains too high, the process of bringing down inflation still has a long way to go, even with more favorable recent readings."
"Two months of good data are only the beginning of what we need to build confidence on inflation path."
"There is substantial further ground to cover to get back to price stability."
"Need sustained progress on goods inflation."
"Slowing rents point to slowdown in housing inflation, will continue to watch."
"Need some further progress on nonhousing services inflation."
"Policy is restrictive but Fed can’t be certain what neutral rate level is."
"Fed will not change 2% inflation target.
"Fed is mindful monetary policy faces risks on both sides."
"Above trend growth could warrant more Fed rate rises."
"Getting inflation back to 2% likely requires below trend growth."
"Lowering inflation also likely to require softer labor markets."
"Signs job market not cooling could also warrant more Fed action."
"Seeing evidence inflation is becoming more responsive to labor markets."
"July PCE seen at 3.3%, core at 4.3%."
"We intend to hold rates at restrictive level until confident inflation is moving sustainably down to 2%."
"Fed will proceed carefully when deciding to hike again or hold steady."
"Economic uncertainty calls for agile monetary policy-making."
"Fed will decide next rate moves based on data."
"Fed is attentive to signs the economy not cooling as expected."
"Inflation remains too high, the process of bringing down inflation still has a long way to go, even with more favorable recent readings."
"Two months of good data are only the beginning of what we need to build confidence on inflation path."
"There is substantial further ground to cover to get back to price stability."
"Need sustained progress on goods inflation."
"Slowing rents point to slowdown in housing inflation, will continue to watch."
"Need some further progress on nonhousing services inflation."
"Policy is restrictive but Fed can’t be certain what neutral rate level is."
"Fed will not change 2% inflation target.
"Fed is mindful monetary policy faces risks on both sides."
"Above trend growth could warrant more Fed rate rises."
"Getting inflation back to 2% likely requires below trend growth."
"Lowering inflation also likely to require softer labor markets."
"Signs job market not cooling could also warrant more Fed action."
"Seeing evidence inflation is becoming more responsive to labor markets."
"July PCE seen at 3.3%, core at 4.3%."