The Federal Reserve appears to be on track to move forward with another reduction of its benchmark interest rate next week after fresh data showed a sturdy jobs market andSeveral economic reports released this week and others earlier this month paint a solid picture of the U.S. economy — job growth and unemployment are solid; the economy continues to grow at a healthy pace and inflation has remained steady.
Central bank officials are trying to walk a delicate balance of keeping the economy from shrinking while also keeping rates at high enough levels to slow inflation. Higher interest rates slow the economy by making it more expensive to borrow money, thus reducing the rate of spending and limiting pressure on prices.
“We look for Fed Chair Powell to once again be the voice of reason corralling the FOMC to prudently ease monetary policy next week,” said EY chief economist Gregory Daco. “With economic growth likely to moderate and disinflation factors still at work, we expect inflation to remain on a gentle descent towards the 2% target into 2025. We continue to expect the Fed to ease policy by 25 at every meeting through June next year amid resilient but moderating growth and cooling labor market trends.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KUTV2News - 🏆 281. / 63 Read more »
Source: mynbc15 - 🏆 262. / 63 Read more »
Source: cbsaustin - 🏆 595. / 51 Read more »
Source: wsyx6 - 🏆 444. / 53 Read more »
Source: komonews - 🏆 272. / 63 Read more »
Source: 13WHAM - 🏆 256. / 63 Read more »