Powell: Don't Expect Half-Point Rate Cut to Be 'New Pace'

The Federal Reserve lowered its benchmark interest rate by a half percentage point Wednesday, an aggressive start to a policy shift aimed at bolstering the US labor market. #fed #federalreserve #interestrates #money #economy #news

Projections released following their two-day meeting showed a narrow majority, 10 of 19 officials, favored lowering rates by at least an additional half-point over their two remaining 2024 meetings.

The Federal Open Market Committee voted 11 to 1 to lower the federal funds rate to a range of 4.75% to 5%, after holding it for more than a year at its highest level in two decades. It was the Fed’s first rate cut in more than four years.

“This decision reflects our growing confidence that with an appropriate recalibration of our policy stance, strength in the labor market can be maintained in a context of moderate growth and inflation moving sustainably down to 2%,” Fed Chair Jerome Powell said in a press conference following the announcement.

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[DovgalyukProductions]

towards 2% wtf, hey we got 25-50% price increases every where but we heading down to 2% what a joke

[byrdman]

So I was raised in a middle class family lol

[Yiminchai]

You only need go to a grocery store and buy a few things to find out the worsening inflation. Where did this guy get his 2% number?

[IOSARBX]

Bloomberg Quicktake, can we be friends

[champfisk]

These comments are ridiculous and he is right about what he is saying.

[dustybahLs]

Hes the laughing stock of the world hes shooting for stagflation