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Can ChatGPT decode what the Federal Reserve is saying?

May 5, 2023
We ran some of the statements Fed Chair Jerome Powell made at his press conference this week.
Federal Reserve Board Chairman Jerome Powell delivers remarks at a news conference after the Fed's latest interest rate hike.
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Fed raises key interest rate but hints it may pause amid bank turmoil

May 3, 2023
The Fed’s rate increases over the past 14 months, aimed at quelling inflation, have elevated the cost of loans and heightened the risk of a recession.
The Federal Reserve signaled that it may pause its series of rate hikes, which have made borrowing more expensive in a bid to quell inflation. Above, Fed Chair Jerome Powell in March.
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What to look for in the Fed's latest meeting minutes

Apr 12, 2023
Fed watchers pore over the document in minute detail in search of clues about future rate hikes.
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting.
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Fed ups rates by quarter percentage point amid inflation worries and a bank crisis

Mar 23, 2023
Jerome Powell says the Fed is committed to getting inflation down to 2%.
Fed chair Jerome Powell announced further interest rate hikes Wednesday amid ongoing banking turmoil.
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All eyes are on the Federal Reserve's next move in this "wobbly" economic moment

Mar 20, 2023
The inflation threat calls for one type of action, and the banking turmoil calls for another. How will the Fed respond?
Chairman Jerome Powell and other policymakers at the central bank will reveal their interest rate decision Wednesday. The Fed is also taking steps to stabilize the condition of regional banks and protect depositors.
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When it comes to inflation, monetary policy might not be getting the job done

Mar 9, 2023
"It's clear there have been some shifts in the economy that just make their policies less effective," says Neil Irwin of Axios.
On Tuesday, Federal Reserve Chair Jerome Powell appeared before the Senate Banking Committee.
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How much should we trust "seasonally adjusted" numbers these days?

Mar 8, 2023
January was an outlier for jobs, spending and inflation — but can we rely on seasonally adjusted data when the past three Januarys have been so weird?
Did a warm January encourage a surge in consumer spending and inflation? "It’s very hard to explain that all with weather," says Johns Hopkins economist Jonathan Wright.
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Resurgent economy foils Fed inflation fight

Mar 8, 2023
Strong consumer spending and job gains so far in 2023 spur Fed Chair Powell to double down on rate hikes.
U.S. Federal Reserve Board Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee.
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Buckle up for a big economics week in Washington

Mar 6, 2023
Fed Chair Jerome Powell testifies on Capitol Hill tomorrow and Wednesday. President Biden is set to release a budget outline on Thursday, and we get February jobs numbers this Friday.
Above, Federal Reserve Chair Jerome Powell testifies to Congress in June. He's slated to appear before lawmakers again this week to discuss the central bank's activities and a range of economic issues.
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The Federal Reserve's economic policy powers might be limitless, but should they?

Feb 27, 2023
In her book "Limitless," New York Times reporter Jeanna Smialek asks how the Fed arrived at this powerful state.
"[Fed Chair Jerome] Powell and his colleagues knew, even as business news channels cheered on the forceful March 23 response that morning, that it would open his institution up to political criticism and possible mission creep," writes Jeanna Smialek in her new book. Above, Powell during an interview on Feb. 7.
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