For the third time this year, the United States Federal Reserve, led by Jerome Powell, has implemented its third interest rate cut. Amid the disclosed relative health of the US economy, the Federal Reserve Chairman hinted that the risks to achieving employment and inflation goals appear balanced. This rate cut has pushed the Fed funds rate down to 4.25% to 4.5%.
Jerome Powell and Interest Rate Outlook for 2025
Despite their confidence in taking economic action this year, the Feds have always acknowledged the existing inflationary pressures and unemployment strain. Fed Chair Powell said the Fed is confident in the economy’s expansion overall, with inflation closer to the projected 2% level.
With the latest 25 bps interest rate cut, he highlighted how less restrictive the Fed’s economic policy is at the moment. While for future cuts, Jerome Powell said the Fed has no defined pace to adjust the rate. He revealed that the Federal Open Market Committee (FOMC) will assess incoming data, the evolving outlook and balance of risks before deciding on future actions.
While he believes there might be a relative slowdown in interest rate cuts, the place of economic data cannot be overemphasized.
This is a developing story, please check back for updates!!!
The post Jerome Powell Speech: No Preset Plan To Adjust Interest Rates appeared first on CoinGape.
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