Reported 12 days ago
Federal Reserve Chair Jerome Powell has bolstered his leadership by guiding the central bank to implement a significant half-point interest rate cut amid softening economic indicators, particularly in the labor market. This decisive action, taken on September 18, 2024, reflects a consensus among Fed officials to preemptively address economic risks, with Powell emphasizing the move as a necessary insurance against potential downturns. Despite varying opinions among committee members regarding the extent of the cut, the overwhelming support for Powell’s proposal marks a key victory in his approach to navigating economic challenges.
Source: YAHOO