Summary of WATCH: Federal Reserve Chair Powell speaks after Fed announces interest rate cut
Summary of WATCH: Federal Reserve Chair Powell speaks after Fed announces interest rate cut
The FED's decision to cut interest rates aims at boosting the job market and maintaining the economy in good shape. Although inflation has decreased, many Americans still struggle with high prices for essentials. The rate cut is expected to lower borrowing costs and stimulate spending and growth. With the additional rate cuts planned, the FED aims to prevent risks and keep the unemployment rate from rising. While some argue that the rate cut may be seen as political interference, FED Chair Jerome Powell emphasizes the institution's commitment to serving all Americans by pursuing maximum employment and price stability. Overall, the move is viewed as a positive step towards supporting the economy.
quoting nevent1q…xahdWATCH: Federal Reserve Chair Powell speaks after Fed announces interest rate cut
The unusually large half-point rate cut, the Fed's first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
https://www.pbs.org/newshour/economy/watch-live-federal-reserve-chair-powell-holds-news-conference-following-interest-rate-meeting
The FED's decision to cut interest rates aims at boosting the job market and maintaining the economy in good shape. Although inflation has decreased, many Americans still struggle with high prices for essentials. The rate cut is expected to lower borrowing costs and stimulate spending and growth. With the additional rate cuts planned, the FED aims to prevent risks and keep the unemployment rate from rising. While some argue that the rate cut may be seen as political interference, FED Chair Jerome Powell emphasizes the institution's commitment to serving all Americans by pursuing maximum employment and price stability. Overall, the move is viewed as a positive step towards supporting the economy.