Fed’s Powell Ready to Support Job Market, Even If It Means Lingering Inflation Inflation has eased “notably in the past year but remains above our longer-run goal of 2%,” Federal Reserve Chair Jerome Powell said to reporters in Washington. The FOMC left the benchmark federal funds rate in a range of 5.25% to 5.5%.Source: Bloomberg Fed chief says ‘unexpected’ weakening could prompt rate cuts Fed shift is good news for Biden and financial markets As inflation surged in 2022, the Federal Reserve moved to prevent a wage-hike spiral by jacking up interest rates. Now, with unemployment edging up, the central bank is signaling a willingness to cut rates to head off a job-cutting spiral – even if that means somewhat higher inflation for a while. For the first time in the current economic upswing, Fed Chair Jerome Powell used his opening statement at Wednesday’s press conference to declare that a surprise increase in unemployment could prompt the Fed to lower rates. He then repeated that message several times in response to reporters’ questions. Michael PiccoiniStrategic Planning, Leadership & Analysis Professional with a background in healthcare, manufacturing and retail. I have a strong understanding of the complex world of revenue Management and how to make it more relevant, understandable, and actionable for executive leadership across all levels of an organization. My career has spanned several years at UnitedHealth Group, Inc. I obtained my B. Comm from the University of Windsor and MBA from Wayne State University « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE Gold Trades at Record Highs, But Will It Lose Its Shine? READ MORE An overlooked Fed policy comes into focus as central bankers weigh how to slow ‘QT’ READ MORE Gold Faces a Lackluster January with a Close Eye on the Fed READ MORE Real Estate Pain Is Showing Up in an Obscure Investment Product READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
