Powell: Fed will do what it takes to keep economy 'in solid shape'

Published On Sep 30, 2024, 1:55 PM

Federal Reserve Chair Jay Powell stated that the Fed is committed to maintaining a robust economy by using its monetary policy tools effectively. He noted that the economy is in solid condition and emphasized the possibility of future interest rate cuts to stabilize economic growth unless job market conditions worsen significantly. Powell reiterated that the Fed’s decisions would be made based on incoming economic data rather than on a pre-set schedule, ensuring flexibility in response to economic changes.