Fed Chairman Says It’s “No Time” to Consider Rate Cuts

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It is “premature” to speculate on interest rate cuts by the Federal Reserve, despite the recent improvement in inflation, the president of the US central bank, Jerome Powell, said this Friday.

The governor maintained his rates at a 22-year high, as a way to make credit more expensive to prevent consumption and investment, and thus moderate the pressure on prices. And this week’s data, with 12-month inflation falling to 3%, is encouraging.

The…

It is “premature” to speculate on interest rate cuts by the Federal Reserve, despite the recent improvement in inflation, the president of the US central bank, Jerome Powell, said this Friday.

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The governor maintained his rates at a 22-year high, as a way to make credit more expensive to prevent consumption and investment, and thus moderate the pressure on prices. And this week’s data, with 12-month inflation falling to 3%, is encouraging.

The Fed has a target of 2% annual inflation. And on Friday Powell said that the organization will continue to fight this scourge until its goal is reached, despite the current “repressive” policy adopted by the institution.

“It may be premature to conclude with certainty that we have reached a sufficiently tight level, or to speculate when (monetary) policy will ease,” Powell said at a conference in Atlanta.

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“We are ready to further adjust the (monetary) policy if it is appropriate to do so,” he reiterated.

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Market futures operators assigned a probability of almost 98% to the Fed maintaining its reference interest rates for the third consecutive meeting at its meeting on December 12 and 13, according to data collected of the specialized company CME Group.

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