Federal Reserve officials maintain their stance on continued interest rate increases, emphasizing a strong labor market and caution against complacency.
A television station broadcasts Jerome Powell, chairman of the US Fed eral Reserve, speaking after a Fed eral Open Market Committee meeting on the floor of the New York Stock Exchange in New York, US, on Wednesday, Sept. 18, 2024.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeafter last week's supersized rate cut.
Atlanta Fed President Raphael Bostic was more circumspect. "Progress on inflation and the cooling of the labor market have emerged much more quickly than I imagined at the beginning of the summer," he said at a separate event. That Bostic was possibly surprised by the increase in the unemployment rate is an indication some Fed officials are indeed worried the jobs market isn't as strong as it should be.
Last, in remarks to the National Association of State Treasurers, Chicago Fed President Austan Goolsbee said that "it's appropriate to increase our focus on the other side of the Fed's mandate — to think about risks to employment, too, not just inflation." Goolsbee sees "many more rate cuts over the next year" because the state of employment is a "through line on economic conditions." That suggests economic conditions need the support of many more rate cuts.The narrative the central bank has been on top of its game to ensure a soft landing, then, is very much intact.Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.
FED Rate Hikes Economy Labor Market Inflation
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.
Why the Fed is set to cut interest rates and what does that meanThe Federal Reserve (Fed) is expected to cut interest rates on Wednesday.
Read more »
Week ahead: Updates from the RBA and SNB eyed; US PCE data also on the radarAt the centre of things last week was the US Federal Reserve (Fed) rate announcement.
Read more »
Federal Reserve Rate Cut Meeting: What To ExpectCNBC Daily Open dives into the upcoming Federal Reserve meeting and what it means for investors. The Fed is widely expected to cut interest rates, but the size of the cut remains uncertain. The article also explores the potential policy trajectory beyond this initial rate cut and highlights the uncertainties surrounding future economic outlook.
Read more »
Federal Reserve unveils toned-down banking regulation in victory for Wall StreetBank CEOs led by JPMorgan Chase CEO Jamie Dimon have lambasted the proposed Basel Endgame regulation since it was unveiled last year.
Read more »
EUR/USD Forecast: Caution mounts ahead of Federal Reserve’s announcementThe EUR/USD pair maintains its positive tone on Tuesday, currently retreating from an intraday high of 1.1145, ahead of the United States (US) opening.
Read more »
Federal Reserve Cuts Interest Rates in Surprise MoveThe Federal Reserve unexpectedly cut its benchmark interest rate by half a percentage point, marking its first rate reduction in over four years. This move signals a shift in focus from curbing inflation to supporting the slowing job market.
Read more »