Fed Chair Powell Says No Decision Yet on December Policy Move
Powell signaled uncertainty over a December rate cut, citing moderate growth, cooling labor markets, and inflation pressures from tariffs as factors influencing the Fed’s cautious stance.
Summary
Federal Reserve Chair Jerome Powell reiterated that a December interest rate cut is far from certain, noting moderate economic expansion, cooling labor markets, and inflation remaining slightly above target. He pointed to tariffs as a factor pushing some prices higher, underscoring that the Fed will maintain policy flexibility amid evolving economic conditions.
Terms & Concepts
- Federal Reserve: The central banking system of the United States, responsible for setting monetary policy, regulating banks, and maintaining financial stability.
- Monetary Policy Decision: An action taken by a central bank to influence the availability and cost of money and credit, often involving interest rate changes.
- FOMC: The Federal Open Market Committee, the policy-making body of the Federal Reserve responsible for setting interest rates and guiding monetary policy.
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