Jerome Powell, the Chair of the Federal Reserve in the United States, recently addressed the Senate Banking, Housing, and Urban Affairs Committee in Washington, DC. Powell emphasized the importance of ensuring that inflation gradually decreases towards the target of 2% before making any policy adjustments.
Economist Ed Yardeni believes that the Fed is likely to implement only one interest rate cut this year, dismissing expectations of aggressive rate cuts due to the strength of the US economy. Yardeni also predicted a rise in job market activity despite inflation nearing the Fed’s target.
Investors anticipating significant rate cuts in response to cooling inflation may be disappointed as the robust US economy may not warrant extensive policy easing from the Fed. Yardeni, the president of Yardeni Research, expressed confidence in the economy’s resilience.
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2024-08-14 22:09:46
Source from finance.yahoo.com
