Fed, benchmark rate
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Fed Chair Jerome Powell said inflation is not far from the central bank’s 2% goal if higher U.S. tariffs are removed from the equation. “You see goods prices increasing. That’s moving inflation up,” Powell said.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. “Job gains have slowed this year, and the unemployment rate has edged up but remained ...
FED’S POWELL: DOESN’T PLACE MUCH WEIGHT ON NON-MARKET SERVICES DATA; NOTES INFLATION EXCLUDING TARIFF EFFECTS IS NOT FAR FROM THE 2% TARGET
Interest rates should continue their downward journey, as forecasters expect another rate cut from the Fed on Oct. 29. Are more cuts coming?