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 labor 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.
"As we think about further cuts we're going to be looking for progress on inflation," Powell said on Wednesday during a press conference. "We have been moving sideways on 12-month inflation."
Denne historien er fra December 20, 2024-utgaven av Financial Express Chandigarh.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 20, 2024-utgaven av Financial Express Chandigarh.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
White-collar hiring up 9% in December
AI/ML, OIL & GAS, FMCG MAJOR GROWTH DRIVERS
Manu, Gukesh Among 4 to Be Awarded Khel Ratna
DOUBLE OLYMPIC-MEDAL-LIST Manu Bhaker and chess world champion D Gukesh were among four winners of the Major Dhyan Chand Khel Ratna award announced by the Sports Ministry, which also named an unprecedented 17 para-athletes in the list of 32 Arjuna awardees to honour their resounding success at the Paris Paralympics.
Climate change mitigation needs funding
At the fourth edition of the IE Thinc: CITIES series, presented by The Indian Express with Omidyar Network India and moderated by Amitabh Sinha, Editor (Climate and Science), panellists discussed how municipal bodies can leverage capital markets to solve climate-related problems
Captain Rohit to miss Sydney Test, 'opts to rest'
THE EARLY HINT of India captain Rohit Sharma sitting out of the final Test of the Border-Gavaskar Trophy at Sydney came from head coach Gautam Gambhir.
Norms for capex release...
THE BALANCE OF ₹55,000 crore is untied advances to states for projects identified by the states.
Indices soar nearly 2%
EQUITY INDICES OF China, Hong Kong, and Thailand declined by up to 2.66%, while Indonesia (up 1.18%), Australia (up 0.53%), and Singapore (up 0.35%) ended with gains.
Rein in tax terrorism
WE NEED A TRANSPARENT SYSTEM THAT CURBS LITIGATION AND A QUICK RESOLUTION PROCESS
When big idea met big tech
AI IN ADVERTISING
A 'Made in China' crisis awaits big auto
When Jaguar's \"COPY nothing\" brand reboot hit late last year, one self-styled car enthusiast replied on X: \"What the actual hell is this?\" Jaguar's response: \"The future.\" That remains to be seen. But the ad, unfamiliar and unsettling, does at least work as a portent of what's coming for the global auto industry.
H-1B Visa Flip-Flop
Trump must convince hardliners that giving US access to the world's best and brightest is essential to its future
