From The National.: 2024-04-03 14:36:05

Federal Reserve Chairman Jerome Powell stated that the US central bank can take its time in deciding when to start lowering interest rates, pointing to economic strength and recent inflation data. Recent figures, including a 0.4% increase in CPI inflation and 275,000 new jobs, exceeded expectations. Despite this, Powell anticipates rate cuts this year to maintain solid growth and 2% inflation. Regional Fed presidents differ in expected rate cuts, with some advocating for three while others see only one. Powell defended the Fed’s independence amidst political pressure, emphasizing the importance of making monetary policy decisions without regard to short-term political factors. Maintaining public trust, he stressed the Fed should avoid addressing issues like immigration and climate change. Powell was nominated by Trump in 2018 and Biden in 2021, with his term lasting until 2026.



Read more at The National.: Jerome Powell says ‘we have time’ to consider US interest rate cuts