Jerome Powell, chairman of the US Federal Reserve System, which determines US monetary policy, has indicated that he will immediately adjust the pace of interest rate hikes starting this month.

However, he made it clear that he would maintain the tightening policy even if the rate hike was reduced.

This is Correspondent Kim Jong-won from New York.


US Federal Reserve Chairman Jerome Powell, who gave a speech on the subject of the US economic outlook and inflation, made a remark suggesting that the range of interest rate hikes will be reduced at the point where only two weeks are left before the last monetary policy meeting of the year.

[Jerome Powell/Chairman of the US Federal Reserve System: Since the current containment measures have reached a level that can lower inflation, it is reasonable to moderate the range of interest rate hikes.

We can start adjusting the pace right away from the December monetary policy meeting.]

However, it is more important than the timing of interest rate easing, how long the current monetary policy will be maintained, and it is clear that the high interest rate policy will continue even if the rate of increase is reduced. I did.

[Jerome Powell/Chairman of the US Federal Reserve System: History shows that we should not hastily ease monetary policy.

The current (high interest rate) trend will continue until inflation is controlled.]

Powell then diagnosed that the overheated labor market must most urgently be calmed down to bring the inflation rate down to the Fed's target of 2%.

[Jerome Powell/Chairman of the US Federal Reserve System: In a situation where job demand far exceeds the level of manpower supply, wage growth is well above the 2% target inflation rate.

] As it was revealed directly to the public, the New York stock market rose at the same time as the major indexes.