Federal Reserve policymakers signal no rush to cut interest rates
==========
Federal Reserve policymakers signal no rush to cut interest rates. In December, most Fed policymakers forecast three or more interest-rate cuts this year. U.S. central bankers want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Last week the Federal Reserve held the policy rate steady in the 5.25%-5.5% range. Fed Chair Jerome Powell said there would likely not be enough data by the next meeting, in March, to feel sure they have made enough progress against inflation to reduce borrowing costs. Boston Fed President Susan Collins believes it will likely become appropriate to begin easing policy restraint later this year. Minneapolis Fed President Neel Kashkari said two to three cuts would seem to be appropriate for him right now. Richmond Fed President Thomas Barkin said he still wasn't quite sold on the idea that progress on inflation will continue. Fed Governor Adriana Kugler is optimistic that progress on inflation will continue with help from both slowing wage growth and from lower rents. Analysts and financial market expectations both point to the Fed's April 30-May 1 meeting as the likely start for rate cuts this year.
#FederalReserve #InterestRates #Inflation #Economy
https://www.businesstoday.in/world/us/story/federal-reserve-policymakers-signal-no-rush-to-cut-interest-rates-416622-2024-02-08
Business Today /
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2024-02-08 02:24:26
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npub10krv5xyz57fwv0upm7fgx90w8m2xulqkzzxml2d9d433rwrlmwpsyffpj8Published at
2024-02-08 02:24:26Event JSON
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"content": "Federal Reserve policymakers signal no rush to cut interest rates\n==========\n\nFederal Reserve policymakers signal no rush to cut interest rates. In December, most Fed policymakers forecast three or more interest-rate cuts this year. U.S. central bankers want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Last week the Federal Reserve held the policy rate steady in the 5.25%-5.5% range. Fed Chair Jerome Powell said there would likely not be enough data by the next meeting, in March, to feel sure they have made enough progress against inflation to reduce borrowing costs. Boston Fed President Susan Collins believes it will likely become appropriate to begin easing policy restraint later this year. Minneapolis Fed President Neel Kashkari said two to three cuts would seem to be appropriate for him right now. Richmond Fed President Thomas Barkin said he still wasn't quite sold on the idea that progress on inflation will continue. Fed Governor Adriana Kugler is optimistic that progress on inflation will continue with help from both slowing wage growth and from lower rents. Analysts and financial market expectations both point to the Fed's April 30-May 1 meeting as the likely start for rate cuts this year.\n\n#FederalReserve #InterestRates #Inflation #Economy\n\nhttps://www.businesstoday.in/world/us/story/federal-reserve-policymakers-signal-no-rush-to-cut-interest-rates-416622-2024-02-08",
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