Federal Chair Jerome Powell said that a new inflation report released Friday is 'along the lines of what we want to see,' sticking to an assertion that...
Federal Reserve Chair Jerome Powell said that a new inflation report released Friday is "along the lines of what we want to see," sticking to an assertion that inflation is still on a "bumpy path" to the central bank's goal of 2%.
The new numbers did show less of a cooling than last year, and Powell reiterated that the central bank needs to see more good inflation readings like those in the second half of 2023. Powell says the Fed doesn’t want to cut too soon and risk inflation popping back up, while at the same time the central bank does not want to wait too long and cause unnecessary harm to the economy.Still Powell noted, the job market and the economy are strong right now and "that means that we don't need to be in a hurry to cut," he said.
to hold interest rates steady and maintain projections for three rate cuts this year. Officials also raised their outlook for inflation and economic growth. Truth Social's owner, which counts Donald Trump as its biggest shareholder, is now worth more than American Airlines and Ralph Lauren by one measure.Desi Lydic 'Foxsplains' The Money That Donald Trump Owes And It's PricelessFox News Star Shouts Down Colleague for Invoking Her Jewish Heritage: ‘Don't Do That!’
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.
Gold price remains strong as Fed Chair Powell sings the same songThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
U.S. Fed Chair Powell's testimony to be watched for any hint on rate-cut timingWith the economy and inflation running hotter than expected, those questions will seize attention Wednesday, when U.S. Fed Chair Jerome Powell begins two days of testimony to Congress.
Read more »
Markets today: Stocks churn before Fed with Powell as 'wild card'Wall Street traders refrained from making any big bets ahead of the U.S. Federal Reserve decision as they braced for whether Jerome Powell will throw cold water on rate-cut hopes.
Read more »
Fed Chair Powell says pandemic has had lasting effects on economyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Fed’s Powell Ready to Support Job Market, Even If It Means Lingering InflationAs inflation surged in 2022, the Federal Reserve moved to prevent a wage-hike spiral by jacking up interest rates. Now, with unemployment edging up, the central bank is signaling a willingness to cut rates to head off a job-cutting spiral – even if that means somewhat higher inflation for a while.
Read more »
Fed Chair Jerome Powell speaks following key inflation reportFed Chair Jerome Powell speaks at the Macroeconomics and Monetary Policy Conference in San Francisco following the release of the latest PCE report, the...
Read more »