2024-07-10 20:07:29
Economy
Finance
Federal Reserve Signals Possible Rate Cuts Amid Job Market Concerns
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The Street
Economy
Finance
Analysts are now predicting that the Federal Reserve may cut interest rates up to three times this year, rather than the previously expected one or two cuts in 2024. This shift is driven by factors like rising unemployment, falling inflation, and increasing economic strains. The Fed usually makes dramatic rate cuts when a recession is unfolding, but has done so in the past even when a recession was not imminent. The analysts argue the Fed should get ahead of the problem and cut rates sooner ra..
New York Times - Economy
Powell Welcomes Cooling Inflation but Wants ‘More Good Data’ Before Rate Cut
Economy
Politics
Finance
Federal Reserve Chair Jerome Powell indicated that recent inflation data has given the central bank more confidence that price increases are returning to normal. He stated that continued progress along these lines would help pave the way for a central bank rate cut, but emphasized the need for 'more good data' before such a move. Powell avoided specifying a timeline for a potential rate cut, but did little to push back on expectations that a reduction could come as soon as September.
Al Jazeera
US Fed’s Powell cites slowing job market in signal rate cuts may be coming
Economy
Finance
Politics
Federal Reserve Chairman Jerome Powell testified before the US Congress, signaling that the central bank may be moving closer to cutting interest rates. Powell cited a cooling job market and persistently high prices, shifting away from the Fed's single-minded fight against inflation. He warned that cutting rates too late or too little could weaken economic activity and employment, suggesting the Fed is considering a more balanced approach to its policy decisions.
Yahoo Finance
Consumer prices expected to have cooled further in June, bolstering hopes for Fed rate cuts
Economy
Finance
The article discusses the upcoming release of the June Consumer Price Index (CPI) data, which is expected to show a further cooling of consumer prices, bolstering hopes for Federal Reserve rate cuts. The headline inflation is expected to have decelerated to 3.1% from 3.3% in May, while core inflation is expected to remain unchanged at 3.4%. The data is seen as critical for the Fed's future policy decisions, as recent economic data has fueled expectations of rate cuts sooner than later.
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