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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 ...
Powell’s comments come as the Fed is expected to cut interest rates later this month for the third time this year. The central bank began to lower borrowing costs in September after inflation ...
Powell declined to be pinned down Thursday on whether the Fed would proceed with an additional quarter-point rate cut in December or the four rate cuts its policymakers penciled in for 2025.
Ahead of Powell's speech, investors had priced in nearly 100% odds the Fed would lower rates next month, with odds on a cut of 0.25% vs. 0.50% standing at roughly two to one.
In prepared remarks, Powell said the U.S. economy and hiring are largely healthy and emphasized that the Fed is “recalibrating” its key interest rate, as opposed to cutting rapidly as it would ...
On the topic of interest rates, Powell said the Fed can afford to cut its benchmark rate cautiously, because the economy is doing better than the Fed thought it was in September, when it collectively predicted four rate cuts in 2025 after three cuts in 2024. “We’re not quite there on inflation, but we’re making progress,” Powell said.
Fed Chair Jerome Powell plans to tell lawmakers Wednesday that interest rate cuts are likely in 2024 but that the central bank will proceed cautiously as it evaluates whether inflation is cooling ...
Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation.