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Fed Chair Powell (Q&A) says economy has been resilient, shock after shock, and consumers are still spending

Fed Chair Powell's remarks underscore a resilient economy, even as consumers face rising gas prices.

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Fed Chair Powell (Q&A) says economy has been resilient, shock after shock, and consumers are still spending

Fed Chair Powell (Q&A) says every advanced economy has made the decision to keep monetary policy as independent, want to take it out of the direct control of elected officials

US FX WRAP: Dollar gains on hawkish Fed statement dissent and Powell sounding hawkish on peers

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  • How long that goes on when gas prices continue higher remains to be seen
  • Has not seen much slowdown yet from higher gasoline prices
Context

This suggests a hawkish outlook, as sustained consumer spending could prompt the Fed to maintain or shift their stance on interest rates. Market participants should watch for implications on the USD and fixed income as these signals could influence monetary policy expectations moving forward.

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