30 September 2024

Powell Says Fed Doesn't Feel Like It's in a Hurry to Cut


Arranged around the theme, “Finding Harmony in the Noise: Transitioning to a New Normal,” the conference will assess the challenges facing global business and policy leaders as they navigate their companies and their countries through uncertain economic times, marked by 
  • geopolitical instability, 
  • elevated inflation and interest rates, and 
  • supply chain issues, as well as enduring tests including climate change and growing fiscal imbalances.
 

A soft landing in the business cycle is the process of an economy shifting from growth to slow-growth to potentially flat, as it approaches but avoids a recession. It is usually caused by government attempts to slow down inflation. --- Wikipedia 



Fed’s Powell Says Rate Cuts Can Sustain Soft Landing, but Sees No Need to Rush

Central-bank leader calls the economy solid; ‘we intend to use our tools to keep it there’

Updated  ET

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The Federal Reserve reduced its benchmark interest rate for the first time since 2020, a key shift in its fight against inflation. WSJ’s Nick Timiraos explains why this is the Fed’s make-or-break moment. Photo Illustration: Ryan Trefes

The Federal Reserve chair emphasized that the overall US economy remains on solid footing.


NASHVILLE, Tennessee, Sept 30 (Reuters) - Federal Reserve Chair Jerome Powell indicated on Monday the U.S. central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending. 




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