If you’ve been eagerly anticipating an onslaught of interest rate cuts, Federal Reserve Chair Jerome Powell’s latest comments could put a crimp in your plans.
Following the Fed’s quarter-percent rate cut at its November meeting, experts have been less confident about more cuts in the near term amid continued reports about resilient consumer spending and mixed employment reports. Powell’s remarks to business leaders in Dallas this week indicated the Fed isn’t in any rush to mess with a good thing.
“The economy is not sending any signals that we need to be in a hurry to lower rates,” he said, calling the US economy’s recent performance “by far the best of any major economy in the world.”
His comments came a day after the Bureau of Labor Statistics‘ monthly Consumer Price Index report showed that inflation rose by 2.6% annually in October. Although the report aligned with most experts’…
