Jumbo Rate Cut Was To Defend ‘Basically Fine’ Economy, Powell Says
“The U.S. economy is in good shape,” Powell said. “It's growing at a solid pace. Inflation is coming down. The labor market is in a strong place. We want to keep it there. That's what we're doing. ”
The Fed's Powell is cutting interest rates. Here's how the economy will respond.
Fed Chair Jerome Powell’s next steps will have enormous influence over the economy that either Kamala Harris or Donald Trump inherits in January.
Jerome Powell says the Fed can cut rates but it can’t fix the housing crisis
The Federal Reserve delivered its first interest rate cut in more than four years yesterday. It was a declaration of victory over once hot, hot, hot inflation. And mortgage rates responded by fluctuating in kind of a weird way.
Fed might have cut rates at July meeting, Powell says
The U.S. central bank might have begun cutting interest rates in late July had it known that the labor market was cooling as fast as it has been, Federal Reserve Chair Jerome Powell said on Wednesday.
Instant Reaction: Powell Defends 50 Point Rate Cut
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Jerome Powell’s sunny economic outlook clashes with the Fed’s bold interest rate cut
The Fed cut interest rates by half a percentage point yesterday—the first cut in four years and double the 25 basis points that many expected from the central bank. And yet the markets dipped down, perhaps because of a perceived disconnect between Fed Chair Jerome Powell’s sunny prognosis that “the economy is in good shape” and the committee’s bold action that suggests a possible recession on the horizon.
Fed Chair Powell says interest rate cut made to maintain strong U.S. economy
Federal Reserve Chair Jerome Powell said during a Wednesday press conference that the first interest rate cut since 2020 is designed to maintain the strong U.S. economy.
FOMC Recap: The Fed Sees A Weakening Economy But Won't Admit It
The Fed's aggressive rate cuts reflect a balancing act to avoid panic and achieve a soft landing. Read more to see my ...
The New York Times1d
I Worked for the Fed. The Interest Rate Cut Is Only One Step in a Larger Plan.
Where things stand is largely fine — the unemployment rate is 4.2 percent ... That naturally led some commentators to worry ...
Hindustan Times5h
Bank of Japan keeps interest rate steady. But is the country's economy fine?
Japan's economy expanded an annualised 2.9% in April-June and real wages rose for two straight months in July, easing fears ...
CNN13d
Mixed news on US jobs: Unemployment rate falls but hiring is slowing
The US economy added 142,000 jobs last month ... Friday’s consequential jobs report shows that America’s job market is ...
Jefferies' Chris Wood weighs in on Fed's surprise rate cut move
But this move this week is a surprise, given the language employed by the Fed chairman going into it, given the fact that the ...
Bank of England holds Bank Rate steady at 5%, urging sustainable path to target inflation
The Bank of England on Thursday held interest rates steady, saying it most work to reach its goal of 2% inflation in a ...
China Economy: PwC China Fined and Suspended Over Evergrande Failures
PwC China Fined and Suspended Over Evergrande Failures | Vantage with Palki Sharma PwC's China auditing unit has been hit ...
Tuko on MSN18h
Brazil judge orders X to reimpose block or face hefty fine
Brazil's Supreme Court on Thursday ordered Elon Musk's X to suspend access to the social network, after service was restored ...
Australia’s new scam prevention draft is welcome – but it needs to be broader in scope
Australians lost more than $2.7 billion to scammers. The government’s new scam prevention framework is currently open for ...
Impact Employer Sama Launches First-of-its-Kind Scalable Training Solution for AI Data Annotation
New productized training empowers employees with increased AI skills, improving tag and shape accuracy by 15% each and ...
Tuko on MSN2d
Google faces another test in EU court over 1.5-bn euro fine
An EU court will rule on Wednesday on Google's appeal of a 1.49-billion euro ($1.65 billion) fine from the European Union, a ...
The U.S. economy is strong by one measure. Why the Fed is set to lower borrowing costs anyway.
A giddy Wall Street projects the Federal Reserve will dramatically reduce interest rates over the next year, even though the ...