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Powell opens the door to a rate pause but insists on the risk of inflation

Date: February 28, 2024 Time: 20:01:20

The Federal Reserve is playing to spite its upcoming monetary policy moves. The president of the central bank, Jerome Powell, has offered signs that he is in favor of starting with the expected pause in interest rates from next June in the face of tighter credit conditions. However, these statements have been accompanied by the message that no decision had been made in this regard and that it remains committed to the mission of returning inflation to 2% in the United States. “We can afford to look at the data and the perspective of its evaluation,” he pointed out.

Without trying to deviate in the slightest from the written script he has read, aware that his words can affect markets, Powell has assured that the data to date “have supported” the committee’s view that reducing inflation will take time. During a public event held in Washington, Powell admitted that the banking tensions that arose at the beginning of March, which have taken three banks (SVB Financial, Signature Bank and First Republic), “possibly” have caused the reference rate of money in the United States does not need to increase as much as was anticipated before the financial earthquake. “Of course, the extent of that is very uncertain,” he said.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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