US Fed Chair sees 'further disinflation' in economy
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Federal Reserve Chair Jerome Powell stated on October 1, 2024, that the US is expected to experience further disinflation, with inflation cooling towards the Fed's target. This statement follows the Fed's recent interest rate cut of 0.5 percentage points, the first since 2020, aimed at easing inflation. Powell indicated that if economic conditions remain stable, additional rate cuts could occur, potentially totaling two more cuts this year. He noted improvements in prices of goods and a solid labor market, emphasizing the Fed's goal to maintain economic strength without causing significant unemployment.
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https://www.bssnews.net/business/213216
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