ABC News on Nostr: Fed Chair Powell says the US economy is in 'solid shape' with more rate cuts coming ...
Fed Chair Powell says the US economy is in 'solid shape' with more rate cuts coming
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Federal Reserve Chair Jerome Powell indicated that more interest rate cuts are forthcoming, contingent on economic developments; the Fed's current interest rate is approximately 4.8%; two additional quarter-point cuts are anticipated at meetings in November and December 2024; inflation fell to 2.2% in August, while core inflation rose slightly to 2.7%; unemployment decreased to 4.2%, still above last year's low of 3.4%; hiring has slowed to an average of 116,000 jobs per month; Powell emphasized the Fed's goal is to maintain a healthy economy and job market, not to prevent a recession; the neutral rate is estimated at about 3%; differing views among Fed officials on the pace of rate cuts were noted.
#FederalReserve #InterestRates #JeromePowell #Economy #Inflation #Unemployment #JobMarket #RateCuts #Nashville #EconomicPolicy
https://abcnews.go.com/Business/wireStory/fed-chair-powell-us-economy-solid-shape-rate-114360248
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Federal Reserve Chair Jerome Powell indicated that more interest rate cuts are forthcoming, contingent on economic developments; the Fed's current interest rate is approximately 4.8%; two additional quarter-point cuts are anticipated at meetings in November and December 2024; inflation fell to 2.2% in August, while core inflation rose slightly to 2.7%; unemployment decreased to 4.2%, still above last year's low of 3.4%; hiring has slowed to an average of 116,000 jobs per month; Powell emphasized the Fed's goal is to maintain a healthy economy and job market, not to prevent a recession; the neutral rate is estimated at about 3%; differing views among Fed officials on the pace of rate cuts were noted.
#FederalReserve #InterestRates #JeromePowell #Economy #Inflation #Unemployment #JobMarket #RateCuts #Nashville #EconomicPolicy
https://abcnews.go.com/Business/wireStory/fed-chair-powell-us-economy-solid-shape-rate-114360248