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The Fed published twice a year, in July 2018, the US Congressional Monetary Policy Report.
Positive evaluations of the country's economy appeared as a report on Fedor Jerome Powell's presentation to congressional committees before the weekly presentations to be made to Congress. According to the report, which showed a 2% increase in gross domestic product (GDP) in the first half of the year, the environment of investment and confidence has partially strengthened because of tax cuts.
During the first half of the year, it was reported that the labor market continued to strengthen, reaching 215 b / d of average monthly increase in l & # 39; employment. This figure was limited to 180,000 for the same period last year.
Raporda also pointed out that unemployment is about 4% despite the increased participation in the labor market. Consumer inflation in the country has risen more than 2% in recent years with an increase in energy prices, "said Fed officials, expecting an increase of inflation in 2018.
The Federal Open Market Committee (FOMC), which determines the Fed's monetary policy, predicts that it will continue to raise interest rates in the direction of these developments. "The FOMC pointed out that the sustainable growth of economic activity, strong labor market conditions and the symmetrical inflation target of 2 percent, the key rate is expected to gradually increase . "
FINANCIAL EVOLUTION
The Fed's Monetary Policy Report also dealt with developments in the financial markets, with strong growth in the US stock market in the first quarter of the year. year, the uncertainty surrounding trade policies, rising interest rates and political developments abroad have been reported.
In addition, the report highlights rising investors in emerging economies, "persistently high level of inflation, expansionary fiscal policies and has been among the high current account deficit with Turkey and Argentina, the countries that run the worst. He made the determination.
Raporda also pointed out that the dollar was appreciated by the smooth running of the American economy as well as by the political developments in Europe and the United States. In the emerging market economies
According to the report, oil prices, which play a role in inflationary pressures, thousand thousand one hundred dollars to 2 thousand 400 dollars have come out. On the other hand, the claim that increased oil production in the country has reduced oil imports to GDP has been quoted as saying, "The burden created by high oil prices for the country". economy is now much less compared to the past. "
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