Federal Reserve plans rate cuts despite strong economy and inflation, impacting 2024 election

From Santa Cruz Sentinel: 2024-04-03 13:14:52

Federal Reserve Chair Jerome Powell announced plans to reduce interest rates later this year despite strong US economy and increasing inflation. This decision could impact 2024 election. Inflation ticked up to 2.5% in February, leading to speculation on Wall Street about timing of rate cuts. Fed officials predict up to three rate cuts in 2024, but some are forecasting fewer cuts. Policymakers look to balance economic growth and inflation with upcoming decisions.



Read more at Santa Cruz Sentinel: Fed still sees rate cuts this year; election timing won’t affect decision – Santa Cruz Sentinel