Categories: Japan

Powell believes Fed should start cutting rates soon.

Published by

As inflation recedes and the job market cools, the Federal Reserve is poised to lower its key interest rate from a 23-year high, according to Chair Jerome Powell. The rate cut is expected to begin in mid-September, with Powell indicating the possibility of multiple reductions. He emphasized that inflation is under control, with the Fed targeting a 2% level.

The prospect of rate cuts led to a Wall Street rally, with economists predicting modest quarter-point reductions at three upcoming meetings. The Fed’s focus is on achieving a “soft landing” as it navigates economic challenges. Powell assured that rate decisions would be based on economic indicators rather than political considerations.

Powell acknowledged the Fed’s slow response to rising inflation post-pandemic, attributing it to prolonged supply chain disruptions. Despite challenges, the Fed aims to stabilize inflation at 2% while fostering a strong labor market. The Fed’s success in managing inflation without causing a recession was praised during a conference in Jackson Hole.

With a rate cut looming close to the presidential election, the Fed faces political criticism. However, Powell remains committed to maintaining economic stability and job growth throughout the process.

Overall, the Fed’s strategy aims to support a balanced economic recovery while addressing inflation concerns for a sustainable future.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

[ad_2]

Source link

Japan Today

Japan Today is an English digital news media outlet owned by GPlus Media Inc. It was founded in 2000 in Tokyo, Japan, where it also operates from. Japan Today covers local news from Japan, regional Asia news and international news stories making headlines.

UNCENSORED WORLD NEWS IN REAL-TIME

Op-Ed| Was the gunfight at Gen. Koor’s house a thwarted assassination attempt?

BY KOKA LO’LADO Juba residents were jostled back into the true indeterminate and volatile nature…

17 minutes ago

Famellos elected SYRIZA leader

MP Sokratis Famellos has been elected the new leader of the left-wing SYRIZA party; official…

17 minutes ago

Tinubu not accidental leader, Presidency replies Kukah

The Presidency on Sunday said President Bola Tinubu was prepared for the nation’s highest office…

18 minutes ago

In Uruguay, a presidential run-off focused on ‘democratic coexistence’

Conservative Alvaro Delgado and left-wing rival Yamandu Orsi went head-to-head in the final round of…

18 minutes ago

Chinese firms likely to boost M&A activity in response to Trump threats: analysts

‘More tariffs may mean that the globalisation of Chinese companies is going to get faster,’…

18 minutes ago

After some rough times, Tosca needs a home for Christmas

This 6-year-old pug loves being held, snuggling with his favorite blanket, relaxing on a sofa…

20 minutes ago

More victims of suspected methanol poisoning in Laos named

Three more victims of a suspected methanol poisoning have been named in Laos, after two…

29 minutes ago

Trump pick Lutnick’s firm in talks with Tether for US$2 billion bitcoin project

Commerce secretary pick’s finance firm could receive support from Tether to help fund project to…

41 minutes ago

UN: Sudan faces the largest internal displacement crisis in the world

WORLD, Nov. 25 (YPA) – A report from the United Nations Office for the Coordination…

46 minutes ago

مهرجان الفيلم القصير بطنجة يكرم عاشر

      احتفى المهرجان الدولي للفيلم القصير، المنعقد حاليا بطنجة، بالصحافي والكاتب الروائي والشاعر…

51 minutes ago

Former Israeli hostages mark 1 year since war’s only release deal

The only truce​ in the ongoing Israel-Hamas war on Nov. 24, 2023 – fewer than…

1 hour ago

السعودية ودعم الشعب اليمني

تأتي إشادة الأمم المتحدة بالدور المحوري والمهم الذي يقوم به مشروع «مسام» التابع لمركز الملك…

1 hour ago

بمشاركة 480 خبيراً ومتحدثاً.. نائب أمير مكة يدشن «مؤتمر الابتكار في استدامة المياه»

بحضور نائب أمير منطقة مكة المكرمة الأمير سعود بن مشعل بن عبدالعزيز، ووزير البيئة والمياه…

1 hour ago

انتبهوا.. هذه الفيتامينات تحفّز نمو الأورام وانتشارها

حذّرت خبيرة متخصصة في مجال السرطان، من أن بعض المكملات الغذائية، التي يُعتقد أنها مفيدة…

1 hour ago

5 فوائد رائعة لشاي الماتشا

شاي الماتشا الياباني التقليدي ليس مجرد مشروب، بل مصدر مذهل للفوائد الصحية. يتميز بلونه الأخضر…

1 hour ago

صفعة لتاريخ عمرو دياب.. معجب في مواجهة الهضبة «من يكسب» ؟

شهدت محكمة جنح التجمع الخامس أولى جلسات محاكمة الفنان المصري عمرو دياب، في قضية اتهامه…

1 hour ago

Europe expert Cui Hongjian on why China, EU face worst-case scenario as Trump returns

Leading Chinese researcher on European studies and ex-diplomat says Beijing, Brussels and Washington may find…

1 hour ago

UAE arrests three after Israeli rabbi killed

The United Arab Emirates said on Sunday it had arrested three suspects in the murder…

1 hour ago

JUST IN: Bishop TD Jakes suffers health emergency during Sunday sermon

Renowned pastor and spiritual leader Bishop T.D. Jakes experienced a health scare during Sunday’s service…

1 hour ago

Senate did not abandon Ifeanyi Ubah – Spokesman

The Senate has refuted claims that it failed to honour its late member, Senator Ifeanyi…

1 hour ago

Israel launches wave of violent strikes on Beirut’s southern suburbs

Lebanon's state media reported a slew of Israeli air strikes on Beirut's southern suburbs on…

1 hour ago

In Video: Hezbollah targets Ma’alot Tarshiha settlement in northern occupied Palestine

BEIRUT, Nov. 25 (YPA) – Hezbollah’s military media released on Sunday video footage showing its…

1 hour ago

Report: Israel agrees to Lebanon truce, Netanyahu working on how to present it to public

Israel's state-run Kan broadcaster said Sunday that Israel has signed off on a U.S.-backed ceasefire…

1 hour ago

مصر: انهيار صخري ينهي حياة 5 بمحافظة الوادي الجديد

تكثف قوات الحماية المدنية المصرية بمحافظة جنوب الوادي جهودها لاستخراج جثث بعض الأشخاص من تحت…

2 hours ago

Springbok Du Toit named World Player of the Year for second time

South Africa back-rower Pieter-Steph du Toit was named best men's player in the 15-a-side game…

2 hours ago

England thrash Japan 59-14 to snap five-match losing streak

England ended a five-game losing streak with a nine-try demolition of Japan as Eddie Jones'…

2 hours ago

UK businessman faces no charges after admitting to violating Russia sanctions

U.K. businessman David Crisp will not face criminal charges after he was caught on camera…

2 hours ago

Ministry of Agriculture condemns Emirati occupation’s violations against fishermen in Hadramout.

SANAA, Nov. 25 (YPA) – The Ministry of Agriculture in Sanaa, condemned the various provocations…

2 hours ago

أهمية سريان صلاحية التأمين !

فوجئ قائد مركبة جديدة باهظة الثمن بسائق متهور يصطدم به مما سبب تلفاً شديداً لسيارته،…

2 hours ago

«كل البيعة خربانة»

إذا لم نستطع قول الحق فلن نصفق للباطل، رضخنا للصمت تارة وتارة أخرى تطرقنا إلى…

2 hours ago

لبنان.. بين فيليب حبيب وهوكشتاين !

في العام 1982، ومع ضراوة القتال بين التنظيمات اللبنانية واجتياح إسرائيلي للبنان، وصل إلى بيروت…

2 hours ago

السودان.. في زمن النسيان

اندلعت المعارك في السودان بين الجيش وقوات الدعم السريع في 15 أبريل من العام الماضي،…

2 hours ago

Gunmen in southeast Mexico open fire in a bar killing 6 and injuring 5

Gunmen opened fire early Sunday at a bar in southeast Mexico, killing six people and…

2 hours ago