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Fed Chair Powell Emphasizes Central Bank's Nonpolitical Stance, Dismisses Major Rate Cut
Summary: During a recent press conference, Federal Reserve Chair Jerome Powell highlighted the central bank's nonpolitical nature, noting that November will mark his fourth presidential election at the Fed. Powell clarified that a significant rate cut, such as a 50 basis-point reduction, is not currently under consideration, stating, "That's not something we’re thinking about right now." ...
During a recent press conference, Federal Reserve Chair Jerome Powell highlighted the central bank's nonpolitical nature, noting that November will mark his fourth presidential election at the Fed. Powell clarified that a significant rate cut, such as a 50 basis-point reduction, is not currently under consideration, stating, "That's not something we’re thinking about right now."
Additionally, Powell expressed that the central bank is closely monitoring the labor market for signs of a sharper downturn. While current indicators, like low unemployment and minimal layoffs, suggest a normalizing labor market, the Fed remains vigilant in its observation.
Tags: Federal Bank,Interest Rates,Jerome Powell
Link: Fed Chair Powell Emphasizes Central Bank's Nonpolitical Stance, Dismisses Major Rate Cut [Copy]
