U.S. central bank

September 19, 2024 10:38 AM

Fed unveils oversized rate cut as it gains ‘greater confidence’ about inflation

The U.S. central bank on Wednesday kicked off an anticipated series of interest rate cuts with a larger-than-usual half-percentage-point reduction that Federal Reserve Chair Jerome Powell said was meant to show policymakers' commitment to sustaining a low unemployment rate now that inflation has eased. "We made a good strong start and I am very pleased that we did," Powell said at a press conference after the Fed, noting its increased confidence that the country's bout with high inflation was o...

Fed expected to hold rates steady, project fewer cuts in 2024

The Federal Reserve is expected to leave interest rates unchanged on Wednesday, with new economic projections from the U.S. central bank's policymakers likely to show fewer rate cuts this year and a delayed start to monetary policy easing. Fed officials will receive a new round of inflation data that could shape their outlook just hours before they conclude their latest two-day meeting and release a fresh policy statement and updated quarterly projections. But with the Fed's efforts to lower i...