Powell says Fed wants to see 'more good inflation readings' before it can cut rates

FILE - Federal Reserve chair Jerome Powell speaks during a news conference the Federal Reserve in Washington, March 20, 2024. On Friday, March 29, 2024, Powell takes part in a moderated discussion about interest rate policy at the Federal Reserve Bank of San Francisco.

Forecasters had expected higher rates to send the United States tumbling into recession. Instead, the economy just kept growing — expanding at an annual rate of 2% or more for six straight quarters. The job market, too, has remained strong. The unemployment rate has come in below 4% for more than two years, longest such streak since the 1960s.

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Jerome Powell may provide hints of whether Federal Reserve is edging close to rate cutsTwo weeks ago, Chair Jerome Powell suggested that the Federal Reserve was 'not far' from gaining the confidence it needed that inflation was headed sustainably toward its 2% target level, which would allow it to start cutting its benchmark interest rate.
Source: WashTimes - 🏆 235. / 63 Read more »

Powell may provide hints of whether Federal Reserve is edging close to rate cutsWASHINGTON (AP) — Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably toward its 2% target level, which would allow it to start cutting its benchmark interest rate.
Source: AP - 🏆 728. / 51 Read more »