FOMC in no hurry to cut rates, says Powell
September’s loosening reflects growing confidence in soft landing, argues Fed chair
“This is not a committee that feels like it’s in a hurry to cut rates quickly,” the chair of the US Federal Reserve said on September 30.
Jerome Powell, who was addressing the 66th annual meeting of the National Association for Business Economics, was speaking of the Federal Open Market Committee (FOMC), which last month reduced the federal funds rate by 50 basis points. The cut was the committee’s first since March 2020.
However, Powell also told the audience that the FOMC would only slow down or
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