Fed Chair: cutting interest rates too soon could be 'quite disruptive'

WASHINGTON: The US Federal Reserve's high benchmark rate is"doing its job" against elevated inflation, Chairman Jerome Powell said Wednesday , warning that

Powell told a conference in California that the current risks to the US economy were"two-sided," with negative consequences for the economy if policymakers moved to cut rates too fast or too slow. Bostic has been on a journey about the timing of cuts in recent months, moving from expressing reservations about early cuts to voicing cautious support for starting them by summer.

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US Federal Reserve Holds Interest Rates, Expects Cuts in 2024The US Federal Reserve voted to hold interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts in 2024. The Fed's decision allows policymakers to assess incoming data and the balance of risks. In 2023, the Fed's policies led to easing inflation and strong economic growth. JP Morgan economists noted that expectations for central bank easing in 2024 have been reduced. Alongside the rate decision, the Fed upgraded the US growth outlook for 2024.
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