SINTRA, Portugal - The U.S. central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures, Federal Reserve Chair Jerome Powell said on Tuesday.
Inflation is still more than half a percentage point above that target, according to the Fed's preferred personal consumption expenditures price index, and was described as "elevated" in the central bank's June 12 policy statement. While the timing of an initial rate cut may matter little to the larger economic outcomes the Fed is seeking, policymakers are attuned to the risk of keeping tight monetary policy in place too long - and putting the current low unemployment rate at risk if the economy slows too much or too fast - and are also sensitive to the signal they will send by cutting rates.
Liz Cheney fires back at Trump after he calls for ‘televised military tribunals’ for former congresswomanMore than 7 in 10 voters have already decided whom they will vote for in the November presidential election, according to a new poll. The Harvard CAPS/Harris poll released Monday showed 72 percent of respondents said they have already made up their minds, while 28 percent said they are still weighing their choices.
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