Powell: Federal Reserve on track to cut rates this year with inflation slowing and economy healthy

[C_Clayton_Jones]

‘Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected to begin as early as May.

Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation’s job market and economy are strong, with no sign of a recession on the horizon.

“I do think the economy is in a good place,” he said, “and there’s every reason to think it can get better.”’

Fed on track to cut rates this year with inflation slowing and the economy healthy, Powell says

Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation’s job market and economy are strong.

apnews.com

The full transcript of the interview:

Fed Chair Jerome Powell shares why central bank hasn't yet cut interest rates, even as inflation falls

Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country's banks and more. Scott Pelley reports.

www.cbsnews.com

 

[SassyIrishLass]

Economy healthy? Roflmao

 

[1srelluc]

A decent chuck roast is still near $7.00 a pound.

Beef Choice Angus Chuck Roast, 2.25 - 3.38 lb Tray - Walmart.com

Tomorrow Buy Beef Choice Angus Chuck Roast, 2.25 - 3.38 lb Tray at Walmart.com

www.walmart.com

Now that might not matter to the EBT crowd but it sure does for the rest of us.

 

[jotathought]

‘Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected to begin as early as May.

Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation’s job market and economy are strong, with no sign of a recession on the horizon.

“I do think the economy is in a good place,” he said, “and there’s every reason to think it can get better.”’

Fed on track to cut rates this year with inflation slowing and the economy healthy, Powell says

Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation’s job market and economy are strong.

apnews.com

The full transcript of the interview:

Fed Chair Jerome Powell shares why central bank hasn't yet cut interest rates, even as inflation falls

Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country's banks and more. Scott Pelley reports.

www.cbsnews.com

Interesting .. this is what I read .. and a little more aligned with reality

The Fed's first big move of 2024 isn't an interest rate cut — but that relief could come soon​

The nation's central bank started off the new year as it closed out the last: no change to interest rates.

On Wednesday, the Federal Open Market Committee announced it would continue its pause on interest rate increases, falling in line with economists' and market watchers' predictions.

 

[John Edgar Slow Horses]

Cut beginning in May then June and August and September, right up to a Biden win.

 

[SassyIrishLass]

Cut beginning in May then June and August and September, right up to a Biden win.

Wishful thinking

 

[Silent Warrior]

Economy healthy? Roflmao

The economy is healthy. It is just people who have to buy stuff that are unhealthy.

 

[Marener]

Economy healthy? Roflmao

70% of Republicans think the economy is getting worse.

Politics can make people blind.

 

[WEATHER53]

And in fact what he actually said was no rate cuts anytime soon.

 

[John Edgar Slow Horses]

They will occur in May June Aug Sep.

The Fed will help Trump's chance in no way.

 

[WEATHER53]

They will occur in May June Aug Sep.

The Fed will help Trump's chance in no way.

He did not confirm that

 

[Lord Long Rod]

“Inflation slowing” means it is still shooting to the fucking moon, but at a slightly slower pace.

 

[John Edgar Slow Horses]

He did not confirm that

Watch and l'ern, leroy miboy.

 

[WEATHER53]

Watch and l'ern, leroy miboy.

Leroy isn’t it racist

 

[Matted Joybeard]

An economy so healthy we have to cut rates.

 

[John Edgar Slow Horses]

Leroy isn’t it racist

Why do you defend racism?

 

[C_Clayton_Jones]

Interesting .. this is what I read .. and a little more aligned with reality

Inflation is slowing and the economy healthy with interest rate cuts coming this year.

 

[Natural Citizen]

As I'd mentioned elsewhere around the board, historically speaking, the FED will pretty much always run interference for the incumbent administration by taking temporary ''relief'' measures.

Largely because they want to keep their jobs.

As such, any temporary actions taken by the Fed during an election year are almost always for the purpose of creating a temporary illusion of relief in mainstream programming for the benefit of the incumbent administraton and should be taken with a giant truckload of salt.

Do better, Jones...

 

[Natural Citizen]

As an aside, Trump recently said that he'd get rid of Powell.

Biden's Fed appointees, collectively speaking, are in defense mode. And Powell himself is trying to keep his job. Of course, they're gonna run interference for the incumbent administration with temporary antics like this.

The Fed is going to do everything in its power create the illusion in the eyes of low info voters to keep the incumbent administration intact.

It's politics 101.

Duh.

But you can't hide how much a loaf of bread or a dozen eggs cost. Or a gallon of fuel. Not even if you try to be a weasel about it and blame the stores. Average Americans trying to make ends meet live in the real world. They are quite aware of the sad state of their purchasing power.

 

[John Edgar Slow Horses]

The problem for the right is that the economy is doing so much better under Biden than it did when Trump left office.