The President of the Swiss National Bank said the strong Swiss franc was one factor influencing the SNB's decision to cut its interest rate to zero. Martin Schlegel also said that Switzerland was ready to intervene in the FX market if necessary. Schlegel spoke with Bloomberg’s Bastian Benrath in Zurich. 00:00 - SNB interest rate decision 00:58 - Swiss franc, currency 01:52 - Oil prices, inflation, effect on economy, intervention in FX market, monetary policy 04:55 - Tariffs, trade, impact on Swiss economy 0 ...

Good afternoon. My colleagues and I remain squarely focused on achieving our dualmandate goals of maximum employment and stable prices for the benefit of the American people. Breaking news.The FOMC meeting took place today. Fed Chair Jerome Powell made an interesting announcement shortly after. The news is this.The Federal Reserve leaves interest rates unchanged. Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum emp ...

>> THE FED REVISING HIGHER ITS INFLATION EXPECTATION, REVISING LOWER ITS ECONOMIC EXPECTATIONS BUT LEAVING A DOT PLOT IN PLACE THAT SUGGESTS TWO RATE CUTS LATER IN THE YEAR. I'M ROMAINE BOSTICK. ALIX: I'M ALIX STEEL, WOULD YOU ARE 10 MINUTES FROM THE CLOSING BELL.NOTHING IN THE MARKET. A SNOOZER IN TERMS OF MARKET REACTION, PROBABLY EXACTLY WHAT THE FED WANTED. THE TWO YEAR YIELD DOWN JUST ONE BASIS POINT.SUPER CALM HONESTLY. ROMAINE: RATES STAYING EXACTLY WHERE THEY ARE. BASICALLY WHERE THEY HAVE BEEN AT E ...

Our obligation is to keep longerterm inflation expectations well anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem. As we act to meet that obligation, we will balance our maximum employment and price stability mandates, keeping in mind that without price stability, we cannot achieve the long periods of strong labor market conditions that benefit all Americans. We may find ourselves in the challenging scenario in which our dual mandate goals are intenti ...

The Federal Open Market Committee decided to leave our policy interest rate unchanged. We believe that the current stance of monetary policy leaves us well positioned to respond in a timely way to potential economic developments. The effects of tariffs will depend, among other things, on their ultimate level.Expectations of that level and thus of the related economic effects reached a peak in April and have since declined. Even so, increases in tariffs this year are likely to push up prices and weigh on eco ...

I was wondering if you could step back a little bit, Chair Powell. Um, you know, there's a spade of articles and a lot of op-eds now in the newspapers saying that the US economy and the global economy is going through this profound change, you know, under akin to the end of the Bretton Woods era in the 1970s. And don't you owe the American people like some sort of like explanation for what's we're going through.I mean, I I noticed earlier this month when you talked about Bretton Woods a little bit and you s ...

You're saying that uncertainty has come down, the economy is moving at a solid pace, inflation has come down over the past three months. Um, and this is all moving in the right direction. So, are you indicating here that Americans should expect some sort of economic pain in the second half of the year.I'm not I'm not saying that at all. You know, from our standpoint, what I can say is that the the US economy is in solid shape. Inflation has come down.The unemployment rate remains at 4.2%. As I mentioned, re ...

Nick Tamros of the Wall Street Journal. Uh, Cher Pal, I guess I'm wondering if you could explain a little bit more the divergence we see in the dot plot, particularly around the 2025 rate projections. I realize this is uh, you know, you have one group of officials that are putting down no cuts, another that are putting down more than one.Um, and again recognizing that could be difficult to summarize, but is it a matter of people having a different outlook or a different reaction function, a different commit ...

the curtain, but he just came around the curtain. Federal Reserve Chair Jerome Powell. >> Good afternoon.My colleagues and I remain squarely focused on achieving our dual mandate goals of maximum employment and stable prices for the benefit of the American people. Despite elevated uncertainty, the economy is in a solid position, the unemployment rate remains low, and the labor market is at or near maximum employment. Inflation has come down a great deal, but has been running somewhat above our 2% longer run ...

My colleagues and I remain squarely focused on achieving our dualmandated goals of maximum employment and stable prices for the benefit of the American people. Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment.Inflation has come down a great deal, but has been running somewhat above our 2% longer run objective. In support of our goals today, the Federal Open Market Committee decided to leave our policy in ...