How ChatGPT parsed the speech from Fed Powell

<p>QUESTION: Put the fed Chair comments in bulleted topics with inflation, economy, employment, fed policy and "other" as the focus</p><p>Recent Economic Data:</p><ul><li>Ongoing progress toward dual mandate goals: maximum employment and stable prices.</li></ul><p>Inflation:</p><ul><li>Inflation peaked at 7.1% in June 2022.</li><li>Core PCE inflation, excluding food and energy, at 3.7% through September.</li><li>Inflation readings have turned lower but still remain too high.</li><li>Commitment to bringing inflation down sustainably to 2%.</li></ul><p>The Labor Market:</p><ul><li>Strong job creation and increased worker supply.</li><li>Labor market gradually cooling with job openings and quits returning to pre-pandemic levels.</li><li>Wage growth showing a gradual decline.</li></ul><p>Growth:</p><ul><li>Disinflation without substantially weaker economic activity.</li><li>Economic growth has consistently surprised to the upside.</li><li>A sustainable return to the 2% inflation goal may require a period of below-trend growth.</li></ul><p>Geopolitical Tensions:</p><ul><li>Elevated geopolitical tensions pose risks to global economic activity.</li><li>Monitoring developments for economic implications.</li></ul><p>Monetary Policy:</p><ul><li>FOMC has tightened policy substantially in the past 18 months.</li><li>Stance of policy is restrictive.</li><li>Will keep policy restrictive until confident in achieving 2% inflation sustainably.</li><li>Tightening may still be in the pipeline.</li></ul><p>Financial Conditions:</p><ul><li>Persistent changes in financial conditions can affect monetary policy.</li><li>Monitoring developments in financial conditions.</li></ul><p>Conclusion:</p><ul><li>Commitment to returning inflation to 2% over time.</li><li>Balancing risks of tightening too much or too little.</li><li>Committee proceeding carefully based on incoming data, evolving outlook, and risk balance.</li></ul><p>The market reaction:</p><ul><li>US rates are lower. The 10-year rate was around 4.93%. It is currently trading at 4.904%. The 2 year yield was near 5.20% is currently at 5.173%</li><li>Stocks are higher. The Dow industrial average was down around 10 points. It is currently up around 70 points. The NASDAQ index was up around 9 points and is currently up 31 points.</li></ul><p>In the Forex:</p><ul><li>EURUSD. The EURUSD initially dip below its 200 are moving average at 1.05636 but that was short-lived. The price has now shot higher and moved to the 50% midpoint of the move down from the September high at 1.06087 (and near a swing high area up to 1.0616). The price has since moved back down and currently trades at 1.0591.</li></ul><ul><li>USDJPY: The USDJPY remains above the 100 hour MA after dipping toward that key technical level at 149.668. It still takes a move below that level to increase the bearish bias. ON the top side the price remains below the 150.00 level.</li></ul><p>Technically, the NASDAQ index moved up toward the 100-hour moving average of 13389.90, and the swing area between 13364.74 to 13382.98 and found willing sellers. </p><p>See my pre-speech video on these three instruments.</p>

This article was written by Greg Michalowski at www.forexlive.com.