US Fed Chair Jerome Powell Hints at Big Rate Cut in September: 'Inflation Falling, Unemployment Faces Risks'
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Jerome Powell, US Federal Reserve Chairman, indicated a potential rate cut in September 2024, citing evolving inflation and unemployment data; current unemployment stands at 4.3%, nearly 4 percentage points higher than early 2023; job vacancies have decreased and nominal wage gains have moderated; Powell noted the labor market is less tight than pre-pandemic levels; the Fed has maintained interest rates since July 2023 after raising them by 525 basis points from March 2022 to July 2023; the last rate cut occurred on March 15, 2020; the next FOMC meeting is scheduled for September 17-18, 2024.
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https://www.news18.com/business/economy/us-fed-chair-jerome-powell-hints-for-big-rate-cut-in-september-inflation-falling-unemployment-faces-risks-9025709.html
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