CryptoGlobe on Nostr: Fed Chair Jay Powell: ‘The U.S. Is on an Unsustainable Fiscal Path’ ========== ...
Fed Chair Jay Powell: ‘The U.S. Is on an Unsustainable Fiscal Path’
==========
Federal Reserve Chair Jerome Powell provided insights on managing inflation, the U.S. economy, and interest rates in a rare interview. Powell acknowledged progress in reducing inflation but emphasized the need for caution before considering rate cuts. He explained the rationale behind the 2% inflation target and the importance of confidence in inflation moving towards the target. Powell discussed the delicate balance of acting at the right time to avoid a recession and admitted the Fed could have responded more quickly to inflationary pressures in 2021. He expressed optimism that conditions for rate reductions could be met within the year. Powell also addressed the economic impacts of the pandemic, the resilience of the banking sector, and the long-term fiscal sustainability of the U.S. economy. Former President Donald Trump criticized Powell's capability to navigate the economy and speculated about potential inflation triggered by interest rate reductions. Trump stated he would not nominate Powell for a second term as Fed Chairman.
#FederalReserve #JeromePowell #Inflation #InterestRates #Economy #BankingSector #NationalDebt #Politics
https://www.cryptoglobe.com/latest/2024/02/fed-chair-jerome-powell-on-navigating-inflation-and-the-u-s-economy-insights-from-a-rare-interview/
==========
Federal Reserve Chair Jerome Powell provided insights on managing inflation, the U.S. economy, and interest rates in a rare interview. Powell acknowledged progress in reducing inflation but emphasized the need for caution before considering rate cuts. He explained the rationale behind the 2% inflation target and the importance of confidence in inflation moving towards the target. Powell discussed the delicate balance of acting at the right time to avoid a recession and admitted the Fed could have responded more quickly to inflationary pressures in 2021. He expressed optimism that conditions for rate reductions could be met within the year. Powell also addressed the economic impacts of the pandemic, the resilience of the banking sector, and the long-term fiscal sustainability of the U.S. economy. Former President Donald Trump criticized Powell's capability to navigate the economy and speculated about potential inflation triggered by interest rate reductions. Trump stated he would not nominate Powell for a second term as Fed Chairman.
#FederalReserve #JeromePowell #Inflation #InterestRates #Economy #BankingSector #NationalDebt #Politics
https://www.cryptoglobe.com/latest/2024/02/fed-chair-jerome-powell-on-navigating-inflation-and-the-u-s-economy-insights-from-a-rare-interview/