Fed Chair Powell Underscores That More Rate Cuts Are Coming

Published On Sep 30, 2024, 1:55 PM

Jerome Powell, the chair of the Federal Reserve, stated that inflation has decreased significantly, while unemployment has increased. As a result, the Fed is likely to lower interest rates in the coming months. They recently cut rates by half a percentage point, a notable change after a long period of maintaining high rates. This adjustment reflects a recalibration of policy to address the evolving economy. Powell emphasized that future rate moves will depend on economic conditions rather than a fixed plan.