Reported 7 days ago
Federal Reserve Chairman Jerome Powell stated that the central bank is committed to maintaining a robust economy, indicating that interest rate cuts will be executed gradually. Following a recent 50 basis point cut, he anticipates two more reductions of 25 basis points in 2024, contingent on economic performance. Powell described the job market as solid, with low layoffs and stable unemployment, emphasizing that the Fed’s goal is to ensure sustained economic strength while achieving its 2% inflation target.
Source: YAHOO