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We are still far from achieving our goals


President of the US Federal Reserve System (Fed) Jerome Powell“We are still far from achieving our goals,” he said in a speech expected by the markets.

“We are committed to achieving our goals. There are strong reasons to expect an increase in employment, but full employment is unlikely to be achieved in 2021,” Powell said. “Powell said.

“I expect inflation to rise as the economy recovers,” Powell said. “The Fed will use its tools to reach the inflation target. We will be patient if there is a temporary increase in inflation.”

“Unstable market conditions cause concern”

“The Fed does not want to surprise people by reducing active purchases. Unequal conditions in the markets are a cause for concern. I will always be concerned about the tightening of financial conditions. The global low inflation environment will not change soon,” he said. Powell said.

Gold collapsed, stock exchanges mixed, the dollar / TL rose

US 10-year Treasury yields rose to 1,545 percent after the Fed’s announcement. As gold prices fell due to this increase, the US stock markets became confused.

The price of an ounce of gold fell below $ 1,700, the value of the dollar against the Turkish lira exceeded the level of 7.50. The price of a gram of gold fell to the level of 408 pounds.

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