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The Fed cut rates by half a point in September, marking the central bank’s first rate-reduction during a 2 1/2 year battle against inflation in the wake of the COVID-19 pandemic.
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.
Federal Reserve Chair Jerome Powell speaks during a press conference where he announced the Fed had cut interest rates by a quarter point following a two-day meeting of the Federal Open Market ...
Federal Reserve Chair Jerome Powell held a briefing Wednesday afternoon as the central bank was set to cut interest rates for a third time. The Fed first cut rates by half a point in September and ...
Federal Reserve Powell Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, Dec. 18, 2024, in Washington. (AP Photo/Jacquelyn Martin)
Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board Building Tuesday, Wednesday, July, 31, 2024. (Jose Luis Magana/AP)
Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of ...
Federal Reserve Chair Jerome Powell is slated to deliver a high-profile speech in Jackson Hole, Wyo., Friday morning about how the central bank sees the economy and what its next steps may be.