Federal Reserve Chairman Jerome Powell indicated on Friday that the central bank is ready to start cutting its key interest rate, possibly as early as next month, in an effort to prevent further erosion in the labor market while continuing to monitor inflation closely.
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Federal Reserve Chair Jerome Powell said Monday that policymakers will not wait until inflation falls to 2% in order to cut interest rates.
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Federal Reserve Chair Jerome Powell said that the central bank will refrain from advancing social policy, especially with respect to climate change.
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FedNow, which the central bank has been developing for the past several years, is intended as a “flexible, neutral platform that supports a broad variety of instant payments” such that consumers can immediately send money through their financial institutions.
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Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time on Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.
Read More: Newsmax