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Blame COVID. Or the economic gyrations that followed the public health crisis. “The story is still just we’re unwinding from these large shocks that the economy got in 2021 and 2022," Powell said.
Powell’s comments set the table for the next gathering of the Fed's Federal Open Market Committee on Nov. 1. They also come just days before a 10-day blackout period during which Fed officials ...
Speaking at a press conference Thursday to discuss the Fed's move today to cut its benchmark interest rate by 0.25 percentage points, Powell added that it is not permitted under the law for ...
At the post-meeting press conference to follow, don’t expect Fed Chair Jerome Powell to say much about President Donald Trump winning his reelection bid — if anything at all.
Powell, speaking in Dallas, said that inflation is edging closer to the central bank's 2% target, “but it is not there yet." “The economy is not sending any signals that we need to be in a ...
Despite the challenges, Powell struck a confident tone about the Fed's ability to bring inflation sustainably back to its 2% target. "We're not going to settle for anything less than 2%," Powell said.
Powell added the US has had the best domestic growth of any major economy, and emphasized the strength of the labor market. He said the October jobs report's slowing job growth was largely due to ...
Powell's comments recalibrated interest rate cut expectations in the market. According to the CME's FedWatch Tool, markets now see a 35% chance of a 50 basis point rate cut at the Fed's November ...