Federal Reserve Signals 2024 Rate Cuts, Powell Unveils US Interest Rate Strategy
TL;DR Summary
Federal Reserve Chairman Jay Powell has revealed the central bank's plans for US interest rates, indicating that they will remain near zero until at least 2023. Powell also emphasized the importance of achieving maximum employment and stated that the Fed will allow inflation to run above its 2% target for some time to support the economic recovery. The announcement comes as the Fed seeks to provide clarity on its monetary policy amid the ongoing COVID-19 pandemic and its impact on the US economy.
Topics:business#economic-outlook#federal-reserve#finance#jay-powell#monetary-policy#us-interest-rates
- Jay Powell reveals Federal Reserve's hand on US interest rates Financial Times
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- Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year The Associated Press
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