2024-07-10 00:04:33
Economy
Finance
Federal Reserve's Powell Signals Potential Rate Cuts Amid Economic Concerns
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The Street
Suddenly, there's talk of 3 rate cuts this year TheStreet Daily Newsletter
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..
Yahoo News
The unemployment rate is just 0.1% from causing a major headache for the Fed: Morning Brief
Economy
Finance
The unemployment rate in the US is just 0.1% away from triggering a well-respected recession indicator called the Sahm Rule, which could put pressure on the Federal Reserve to cut interest rates. The Fed is closely watching economic data, including the upcoming Consumer Price Index inflation report, as it tries to balance its twin mandates of maximum employment and stable prices. While the Fed is expected to hold steady at its July meeting, the odds of a September rate cut have been increasing,..
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.
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