Federal Reserve Chair Jerome Powell speaks after Fed holds interest rates steady — 1/31/2024

Federal Reserve Chairman Jerome Powell delivers remarks following the Federal Reserve's two-day policy meeting on Wednesday.

The Federal Reserve on Wednesday sent a tepid signal that it is done raising interest rates but made it clear that it is not ready to start cutting.

In a substantially changed statement that concluded the central bank’s two-day meeting this week, the Federal Open Market Committee removed language that had indicated a willingness to keep raising interest rates until inflation had been brought under control and was on its way toward the Fed’s 2% inflation goal.

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Federal Reserve Chair Jerome Powell speaks after Fed holds interest rates steady — 1/31/2024

[bradlucass]

With rates climbing like never before coupled with uncontrollable inflation, and our own mortgage now above 5.25% what are the best alternatives/strategies for avoiding a crunch and maximize my savings other than moving in to an RV with my two kids.

[ryneholman]

Not one person asked about the bank term funding

[John-zhud]

Summary: What part of two effing percent inflation do you not understand?

[debbiemacnichol]

Even though I plan to stick with it, inflation is wasting my money and my portfolio is losing gains every day, so I need a cure right away. My main concern is how to raise the value of my cash reserve because it has been lying there for a very long time with little to no increases and inflation is currently about 3.4%.

[alabamatraffikl.l.c]

These MFs should be under investigation for intentional market manipulation

[codeblue]

Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025

[Effervescent_Smegma]

they are being too soft. Keep raising the rates.

[JC-cfrs]

He’s reading the same speech every time he gets up there… and nobody notices… 😂

[JC-cfrs]

It is funny how prices doubled or tripled (100-200+%) and Fed said it was 9% inflation.

Items didn’t go from $2 to $2.18… they went from $2 to $5 and somehow the Fed math on that is 9% inflation.

[aaronfritz]

The federal government was more responsible they would help ease inflation by spending less on superfluous things.

[KienKhoan]

Inflation measured by Fed is unrealistically and shamefully low but housing inflation is terribly high and Fed says it has no part causing it. Property is similar to stock markets in terms of investments and speculation and the latter pays unusual attention to Fed far more than it does to anything or anything else, then there is no reason the property market doesnt and as a consequence doesnt get impacted by Fed.

[John-ocew]

The rate of inflation will not improve much because the Panama canal is running dry and shipping thru the canal is down 60% which will drive up prices. Also the ships are forced to haul fewer containers so the ships will be able to proceed thru the canal in more sallow water.

[asolano]

Who invited that guy asking the Chairman if he wanted to keep his job??? He din't have a question about Fed policy apparently.

[kevinhuddleston]

If we do not include food in the inflation numbers, we are failing the entire population. Food prices affect us all. Looking for good or better data should not be manipulated by taking food out of the equation. We want REAL inflation reporting.

[hornet]

Anecdotal evidence shows inflation in the 30%/annum range.
In two years bag of coffee from Whole foods up 46%
A battery for my car in 3 years 3 mo. from $77 to $151 at Walmart 96%

[karenmorgan]

I finally agree w/Powell....take your time buddy...you can't afford another mistake.

[DotyString]

Remember they only cut if there is a problem….remember that

[doughboi]

The moment rates start to fall, home prices are going to launch into the stratosphere.

[StevenBonomo]

Since about 1990, the Feds open market committee has tried to lower inflation by raising the Federal Funds Rate, which affects basically all United States borrowing. This was their only tool at the time to accomplish their mandate. Admittedly a sledge hammer type tool.

34 years later it is still the only tool they feel comfortable with.

Unfortunately it does not discriminate between those prices going up or not.

I suggest a new tool be used which attacks the specific items increasing, first determining what, where, why and how. It's called a computer. I have 2 and will gladly loan

[tomnguyen]

I don't think inflation has been going down or maybe just a lightly down. Go to super market and check out the prices of the groceries. Before pandemic rib eyes in costco was around $40, now is $80, so how can you say inflation is down? please explain?