Jerome Powell, Chairman of the US Federal Reserve , delivers the Semi-Annual Monetary Policy Report and responds to questions before the Senate Banking Committee on the first day of his Congressional testimony. Key takeaways Most recent labor market data sent a pretty clear signal that the labor market has cooled considerably. Labor market is more or less back to pre-pandemic levels. We are well aware we now face two-sided risks. Labor market is fully back in balance now.
How often does the Fed hold monetary policy meetings? The Federal Reserve holds eight policy meetings a year, where the Federal Open Market Committee assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.