Federal Reserve Chair Jerome Powell suggested that the Fed is in no hurry to further raise its benchmark interest rate, given evidence that inflation pressures are continuing to ease at a gradual pace.
File - Federal Reserve Chair Jerome H. Powell speaks at a news conference at the Federal Reserve in Washington, Wednesday, Nov. 1, 2023. WASHINGTON — Federal Reserve Chair Jerome Powell suggested Thursday that the Fed is in no hurry to further raise its benchmark interest rate, given evidence that inflation pressuresto help reduce inflation to the Fed’s 2% target level.
“We will continue to move carefully,” he said, a phrase he has used often that is widely interpreted to mean that the Fed will closely monitor incoming data but it isn’t leaning toward a hike.
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