The Briefing Room

General Category => Economy/Business => Topic started by: mystery-ak on March 06, 2024, 02:35:18 pm

Title: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: mystery-ak on March 06, 2024, 02:35:18 pm

Powell says Fed won't rush to cut interest rates until inflation is conquered
Fed's Powell doubles down on 'no rush to cut' message in congressional testimony
By Megan Henney FOXBusiness


Federal Reserve Chair Jerome Powell said Wednesday that policymakers expect to cut interest rates sometime in 2024, but are not ready to do so until they are confident inflation is tamed.

"We believe that our policy rate is likely at its peak for this tightening cycle," Powell said in remarks prepared for testimony before the House Financial Services Committee. "If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year."

The Federal Open Market Committee voted during their January meeting to hold rates steady at a range of 5.25% to 5.5%, the highest level in 22 years. Although policymakers also cracked open the door to reducing rates this year, Powell told reporters during the post-meeting press conference that a March cut was unlikely.

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https://www.foxbusiness.com/economy/powell-says-fed-wont-rush-cut-interest-rates-capitol-hill-testimony

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: catfish1957 on March 06, 2024, 04:36:15 pm

Lost in all the recent big news is the big jump and new record pricing in Gold.  At this moment- $2,154.70/oz.

Not good news considering it may be harbringer of (1) Weakness or pecieved weakness in the $USD. or (2) Are we in the infant stages of some upcoming hyperinflation.

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: Wingnut on March 06, 2024, 05:22:43 pm

(https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fthewashingtonstandard.com%2Fwp-content%2Fuploads%2F2018%2F06%2Fbagdad-bob.jpg&f=1&nofb=1&ipt=222413e43e8716112d605f3d7d2a354369a30e8fa4c711ba1c452564f3ca5aa9&ipo=images)

Everything Is fine. Inflation is under control. Biden's policies are working as planned.

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: GtHawk on March 06, 2024, 05:54:51 pm

Quote from: catfish1957 on March 06, 2024, 04:36:15 pm

Lost in all the recent big news is the big jump and new record pricing in Gold.  At this moment- $2,154.70/oz.

Not good news considering it may be harbringer of (1) Weakness or pecieved weakness in the $USD. or (2) Are we in the infant stages of some upcoming hyperinflation.

I'm putting all my spare money in ammunition, ammunition is the new gold when SHTF and we enter a barter economy :whistle:

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: LMAO on March 07, 2024, 02:48:35 pm

I thought inflation already was conquered? That’s what the White House tells us.

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: catfish1957 on March 11, 2024, 04:38:07 pm

Now...  Gold is $2,189/oz. Seems like new records daily now.

Title: Re: Powell says Fed won't rush to cut interest rates until inflation is conquered
Post by: catfish1957 on March 11, 2024, 05:14:52 pm

Quote from: Jack Russell on March 11, 2024, 04:45:01 pm

I sure wish silver would follow.

Good point.  I know we have never seen a 100X differental between the two.  We are getting close.