Reported 2 days ago
Federal Reserve Chair Jerome Powell addressed the current economic uncertainties, emphasizing that the central bank does not need to rush into changing interest rates. He pointed out that the U.S. economy remains stable despite fluctuations and anticipated that progress in lowering inflation would continue, albeit unevenly. While acknowledging a potential moderation in consumer spending and elevated inflation expectations, he reassured that long-term expectations align with the Fed’s 2% inflation target. Powell's remarks suggest policymakers are poised to maintain the current key policy rate at the upcoming meeting, as they assess ongoing economic indicators.
Source: YAHOO