Powell Explains Why the Fed Cut Rates by 50 Basis Points

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Federal Reserve Chair Jerome Powell details why the FOMC cut interest rates by 50 basis points to a new range of 4.75% to 5%. He says the Fed is still squarely focused on its dual mandate and that there was a notable step down in payroll gains. He speaks in Washington.
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To be honest with you, the dual mandate goal given by Congress is really Congress and Executive passing the buck to Fed. Inflation should be the Fed primary responsibility not unemployment, even if given mandate, it should be secondary. Jobs should be responsibility of Executive and Legislative

Bigjoe
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So...the economy is strong and we need a interest rate cut? By the way, inflation is WAY HIGHER than what they report ! Go to the grocery store and tell me a basket of groceries ISN'T UP at least 20% - 40% in the past 2 yrs !

ryantourney
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I came to comments to see all the real economists who should be the actual chairmen

EatOffTop
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They just can't stop printing, they try so hard but they just can't stop.

JohnDaniels
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JP has always had his eye to his legacy, and that is a good thing.

alexgamble
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I support Trump!
TRUMP 2024! ❤
I hope that Trump will fire Powell!

JerzyNowak-
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I do like JP with limited margins he delivers Democrats asked JP not sinks the market says everything

AlainBelanger-ndeh
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I think lower interest rates may lead to higher inflation coming back. Lower rates will likely weaken the US dollar. In my opinion market expectations should rather not dictate the conditions whether to cut or not.
TRUMP 2024!

JerzyNowak-
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No need to explain anything. US banks are cratering; overwhelmed by immense debts in all sectors. CRE is collapsing. Recent changes in bank reserve requirements and the SEC's manipulation of stock re-pricing are clear signs of the huge desperation to save the stock market.

louistan
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Its funny how all these politicians go on these stands to tell us how the economy is good and that we are not struggling... meanwhile we all live pay check to pay check lol... how the hell are you going to tell us how we are living when we are the ones going through it! The economy is NOT GOOD!

Joeythejew
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Get me Richard Werner to head the Fed! He is a real economist.

gtwentyeightclub
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Sorry jeromy markets shouldn't have risen❤❤🎉🎉

shankarbalakrishnan
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What is Explain?What, Realistically, always same story, always, inflation, labor market....
What Realistically?What?

milosnestorovic
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This guy's speaches may as well be voiced by an AI agent and we would never know it

dpz
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Dude needs to wear a clown mask when he says the labor market is OK

justincroom
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Great job with 0.5% cut and a further 0.5% by December 2024. 1% in year 2025 and 0.5% in 2026 bringing interest rates to 3%. Hopefully we can avoid a GFC like 2008 in 2025!? (with no stock market crash).

steveong
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The road to turning everyone into a working slave.

LivingWithGout