Powell: 50bp Rate Cut Not on the Table, But Not Ruled Out

IconCryptoNewsTerminal Staff31 Jul, 2024

cryptonews.jpg

Powell: 50bp Rate Cut Not on the Table, But Not Ruled Out

Federal Reserve Chair Jerome Powell stated at a press conference after the FOMC meeting that while a 50 basis point interest rate cut is not currently being considered, it has not been completely ruled out. Powell emphasized the Fed's continued commitment to combating inflation while maintaining economic growth. Although the central bank raised interest rates by 25 basis points at the meeting, Powell noted the possibility of larger rate increases in the future if inflation remains elevated. The Fed is closely monitoring economic data and will adjust its policy stance as necessary to achieve its goals of price stability and maximum employment.

Related News