Reported 20 days ago
In a recent press conference, Federal Reserve Chair Jerome Powell addressed the implications of the Fed's first interest rate cut in four years, lowering the target rate by 50 basis points. Economists Greg Daco and Ann Berry on Yahoo Finance's Market Domination highlighted Powell's focus on recalibrating monetary policy and his influence on fellow policymakers. Although the market showed minimal reaction, there were concerns regarding the Fed's reliance on outdated data sets instead of adopting more forward-looking indicators. Ultimately, the rate cut is expected to have a limited effect on the average consumer's economic activity.
Source: YAHOO