fed chare Drome pow uh sparking a selloff on Wall Street by leaving a rate hike on the table it comes as other fed officials from Atlanta and Richmond both warning today that the full impact of past rate hikes is yet to be felt Jennifer shenberger has been following this for us Jen good afternoon Josh fed chare Jal just wrapping up remarks at the IMF HQ here in Washington where he said that monetary policy isn't restrict territory putting downward pressure on inflation and he cautioned against being misled by a couple months of good economic data though the Fed chair squarely kept rate hikes on the table take a listen if it becomes appropriate to Titan policy further we will not hesitate to do so we will continue to move carefully however allowing us to address both the risk of being misled by a few good months of data and the risk of overtightening the Fed chair emphasized a meeing by- meeing approach based on the totality of the economic data pal said that while third quarter GDP clocked in quite strong the FED does expect that to moderate though the committee is continuing to monitor how strong growth will continue and whether that can undermine progress made on inflation and rebalancing the job market now the Fed chair was also asked about the hike in long-term bond yields which have actually come down about 35 bases points since the fed's meeting last week and he said that the FED is very focused on tightening Financial conditions and how significant that could work into their monetary policy mechanism though that right now the FED is very focused on whether to raise rates higher before deciding how long to hold rates at restrictive levels while Wall Street has not penciled in any further rate hikes and believes the FED is done in its current rate hiking cycle officials have penciled in one more rate hike for this year leaving the possibility open for the month of December now also just want to note that at the beginning of Fed chair pel's remarks he was interrupted by some climate protesters this is the second time that the Fed chair has been interrupted by climate protesters since he spoke in New York last month back to you yeah this coming just weeks out from cop 28 certainly uh fed policy or climate policy around Central Bank going to be in Focus as well Jen shurger thanks so much for that
