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 Federal Reserve cut its benchmark interest rate by a half-point after more than two years of high rates. This shift aims to boost the job market and maintain economic stability. The Fed also plans additional rate cuts to support borrowing, investment, and spending in the future. Despite concerns about impacts on inflation, the move is viewed as a positive step towards ensuring a healthy economy. Unemployment is expected to rise, but a focus on labor market health and economic stability remains a priority.
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 Federal Reserve cut its benchmark interest rate by a half-point after more than two years of high rates. This shift aims to boost the job market and maintain economic stability. The Fed also plans additional rate cuts to support borrowing, investment, and spending in the future. Despite concerns about impacts on inflation, the move is viewed as a positive step towards ensuring a healthy economy. Unemployment is expected to rise, but a focus on labor market health and economic stability remains a priority.