A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.
Here’s a look at the 9 new Florida laws going into effect on Jan. 1, 2025Jacksonville Jaguars quarterback Trevor Lawrence leaves the field on a cart after getting injured on a late hit by Houston Texans linebacker Azeez Al-Shaair during the first half of an NFL football game Sunday, Dec. 1, 2024, in Jacksonville, Fla. Read full article: The Cold Continues, Protect those P'sDEALS 4 JAX
“At present, I lean toward supporting a cut to the policy rate at our December meeting," Waller said in his remarks to a conference held by the American Institute for Economic Research."But that decision will depend on whether data that we will receive before then surprises to the upside and alters my forecast for the path of inflation.”in the economic and inflation outlook in the past month or so.
In October, “core” inflation, which excludes volatile food and energy costs, accelerated a bit. It rose 2.8% compared with a year earlier, up from 2.7% in September. Even so, Waller said the Fed’s benchmark rate is high enough to restrict economic growth and inflation and so a quarter-point rate cut wouldn't involve much risk of reigniting inflation.In his speech, Waller acknowledged some frustration over the recent persistence of inflation.
Business Donald Trump U.S. News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Upside surprise in inflation could push Fed to pause in December: Fed's KashkariUpside surprise in inflation could push Fed to pause in December: Fed's Kashkari
Read more »
A top Fed official leans toward December rate cut but says it depends on economic dataWASHINGTON (AP) — A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but
Read more »
Federal Reserve's likely slowdown in rate cuts could disappoint borrowersJust a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates
Read more »
Federal Reserve cuts key interest rate by a quarter-point amid postelection uncertaintyThe Fed moved in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory.
Read more »
Federal Reserve is set to cut interest rates by a quarter pointFederal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation…
Read more »
Federal Reserve is set to cut rates again while facing a hazy post-election outlookNo one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
Read more »