Reported about 9 hours ago
Federal Reserve Chair Jerome Powell emphasized the Fed's deliberate pace in adjusting interest rates during his testimony to lawmakers, citing a stable economy and persistent inflation concerns. He expressed that the Fed has no immediate need to change its current rates, which remain at 4.25%-4.5%, as they continue assessing inflation's trajectory and the economic impact of the new Trump administration's policies. Powell indicated that any rate cuts would depend on unforeseen changes in the job market or inflation trends, while the Fed maintains its goal of 2% inflation.
Source: YAHOO