Powell sticks with Fed's cautious rate-cut strategy
==========
Federal Reserve officials, including Jerome Powell, suggest more time and data are needed before deciding on interest rate cuts. Powell stated that rate cuts will happen once inflation reaches the Fed's 2% target. Atlanta Fed President Raphael Bostic believes rates should not be reduced until the fourth quarter of this year, with only one quarter-percentage-point cut anticipated in 2024. Fed Governor Adriana Kugler expects a disinflationary trend to continue and pave the way for rate cuts throughout the year. The Fed last month held its benchmark overnight interest rate steady in the 5.25%-5.50% range. Powell maintains the baseline outlook that rates will fall 'later this year' but has not hinted at when the Fed might loosen its grip on credit. Inflation remains above the central bank's 2% target, and recent progress has been minimal. Published on Apr 04, 2024, 11:41 AM IST.
https://www.businesstoday.in/world/us/story/powell-sticks-with-feds-cautious-rate-cut-strategy-424261-2024-04-04
Business Today /
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2024-04-04 06:58:28
Author Public Key
npub10krv5xyz57fwv0upm7fgx90w8m2xulqkzzxml2d9d433rwrlmwpsyffpj8Published at
2024-04-04 06:58:28Event JSON
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"content": "Powell sticks with Fed's cautious rate-cut strategy\n==========\n\nFederal Reserve officials, including Jerome Powell, suggest more time and data are needed before deciding on interest rate cuts. Powell stated that rate cuts will happen once inflation reaches the Fed's 2% target. Atlanta Fed President Raphael Bostic believes rates should not be reduced until the fourth quarter of this year, with only one quarter-percentage-point cut anticipated in 2024. Fed Governor Adriana Kugler expects a disinflationary trend to continue and pave the way for rate cuts throughout the year. The Fed last month held its benchmark overnight interest rate steady in the 5.25%-5.50% range. Powell maintains the baseline outlook that rates will fall 'later this year' but has not hinted at when the Fed might loosen its grip on credit. Inflation remains above the central bank's 2% target, and recent progress has been minimal. Published on Apr 04, 2024, 11:41 AM IST.\n\n\n\nhttps://www.businesstoday.in/world/us/story/powell-sticks-with-feds-cautious-rate-cut-strategy-424261-2024-04-04",
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