The National on Nostr: US Fed's Jerome Powell in no hurry to cut interest rates ========== Jerome Powell, ...
US Fed's Jerome Powell in no hurry to cut interest rates
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Jerome Powell, chairman of the US Federal Reserve, stated on November 14, 2024, that the Fed is not rushing to cut interest rates, citing persistent inflation pressures. The Personal Consumption Expenditures (PCE) price index was estimated at 2.3% in October, slightly above the 2% target. Powell noted strong economic activity and robust consumer spending as reasons for a cautious approach. The unemployment rate stands at 4.1%, and the Fed recently cut rates by 25 basis points to a target range of 4.50-4.75%. Traders anticipate another rate cut in December, but uncertainty looms due to president-elect Donald Trump's proposed tariffs and deportation strategies, which could impact inflation and the economy. Minneapolis Fed President Neel Kashkari warned that mass deportation could disrupt labor supply.
#FederalReserve #JeromePowell #InterestRates #Inflation #Economy #LaborMarket #Trump #Pce #Unemployment #Tariffs
https://www.thenationalnews.com/business/economy/2024/11/14/us-feds-jerome-powell-in-no-hurry-to-cut-interest-rates/
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Jerome Powell, chairman of the US Federal Reserve, stated on November 14, 2024, that the Fed is not rushing to cut interest rates, citing persistent inflation pressures. The Personal Consumption Expenditures (PCE) price index was estimated at 2.3% in October, slightly above the 2% target. Powell noted strong economic activity and robust consumer spending as reasons for a cautious approach. The unemployment rate stands at 4.1%, and the Fed recently cut rates by 25 basis points to a target range of 4.50-4.75%. Traders anticipate another rate cut in December, but uncertainty looms due to president-elect Donald Trump's proposed tariffs and deportation strategies, which could impact inflation and the economy. Minneapolis Fed President Neel Kashkari warned that mass deportation could disrupt labor supply.
#FederalReserve #JeromePowell #InterestRates #Inflation #Economy #LaborMarket #Trump #Pce #Unemployment #Tariffs
https://www.thenationalnews.com/business/economy/2024/11/14/us-feds-jerome-powell-in-no-hurry-to-cut-interest-rates/