Powell signals Fed's focus is back on inflation
Financial Express Delhi|December 20, 2024
POLICYMAKER EXPECTING A HALF-PERCENTAGE POINT REDUCTION NEXT YEAR
CRAIG TORRES

FEDERAL RESERVE OFFICIALS capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore. Chair Jerome Powell put it plainly: The central bank's year-end inflation projection has "kind of fallen apart."

Officials now see it taking much longer for inflation to reach their 2% target, which they have missed for nearly four years. As a result, they dialed back expectations for rate cuts next year, and Powell made clear that any adjustments will hinge on further progress in cooling price increases.

The stronger focus on inflation is a significant shift in strategy from September when officials saw labour market softening as the greater risk. But recent data have reignited concerns about inflation stalling above the central bank's 2% goal - as have policy proposals from President-elect Donald Trump.

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هذه القصة مأخوذة من طبعة December 20, 2024 من Financial Express Delhi.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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