Addressing the muchawaited Jackson Hole Symposium on Friday, Powell said that "the time has come for policy to adjust" but stopped short of giving a hint on the quantum of interest rate cut.
"The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks," Powell said.
Faced with high inflation during the Covid-19 pandemic, the US monetary policy committee, as part of its commitment to restoring price stability, raised the policy rate by 425 basis points in 2022 and another 100 basis points in 2023. It held the policy rate at its current restrictive level since July 2023.For much of the past three years, inflation ran well above Fed's 2 percent goal, and labor market conditions were extremely tight.
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Supreme Court Sets Deadline for Chhattisgarh Liquor Case Investigation
The Supreme Court has instructed the Chhattisgarh government to complete its investigation into Arun Pati Tripathi, a former excise official accused of causing over Rs.2,000 crore in losses to the state, by April 10.
Nifty valuations align with historical averages
After the recent market correction, Nifty's valuations have returned to levels that align with its 5-year and 10-year averages, according to a report by HSBC Mutual Fund.
HM Shah to Implement Strict Measures for Peace in Manipur
Amit Shah has also said that all members of Kuki insurgent groups who had signed the Suspension of Operations agreement must return to their camps.
Stop victimizing the victim
When the victim becomes the victim again: Why this must change.
Sheena Bora Murder Case Trial to Resume From March 10
After a 4-month pause, the trial in the high-profile Sheena Bora murder case is set to resume on a day-to-day basis from March 10, following the transfer of the special judge overseeing the case.
HSL Secures Top Honors at Governance Now PSU Awards
Commodore Girideep Singh (Retd), Director (Strategic Projects) at HSL, was awarded the 'Operations Leadership' Award for driving critical reforms and engineering advancements in ship repair and submarine refit operations.
Congress Mulls New Election Management Department
With the two-day Congress meeting scheduled in Gujarat on April 8 and 9, the grand old party is mulling the idea of the formation of the Election Management Department, a body announced during the three-day 2022 Udaipur Navchintan Shivir.
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According to senior officials familiar with the matter, Pakistani diplomats in Dhaka have leveraged their presence to penetrate key institutions, including the legal system, media, and educational bodies.
Adani Hosts Women Envoys at Mundra SEZ
Adani Group Chairman Gautam Adani expressed his gratitude after hosting nine women ambassadors and high commissioners to India at the Khavda Adani Renewable Energy Park and Mundra's Special Economic Zone (SEZ).
HOW AI CAN TRANSFORM INDIA'S LEGAL LANDSCAPE
India stands at a crucial intersection of legal tradition and technological innovation, poised to revolutionize its legal system through artificial intelligence.
