The Fed’s official statement was expanded to include the statement that “in recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.” In the press conference,was even more explicit, going so far as to state that “further progress in bringing down is not assured and the path forward is certain.”. At the June meeting, the Fed kept its benchmark federal funds rate unchanged at the range of five percent to 5.
It got the opposite in the first quarter of this year. Inflation came storming back in January and only cooled a bit in February and March. The Fed’s fear that the disinflation of 2023 could prove transitory seemed a very real possibility.Powell said Wednesday that the appropriate policy response is to keep the policy rate where it is and wait for more data.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breitbart Business Digest: It’s Time for the Fed to Start Talking About HikesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: There Are No Fed Cuts Ahead This YearSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Inflation Is Too Hot for the Fed to Cut Despite Sluggish GrowthSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Biden’s Noncompete Ban Is a Gift to Silicon ValleySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: The Gas-Guzzling Secret of GM’s SuccessSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Trump Trial Isn’t Distracting Americans from the Ravages of BidenomicsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »