Fed opts for outsize cut as Powell seeks to ensure soft landing
19/9/2024 6:28
Federal Reserve Chair Jerome Powell led his colleagues to an outsize interest-rate cut designed to preserve the strength of the US economy as risks to the labor market mount, marking an end to their single-minded focus on quashing inflation.
The Fed chief said launching the unwind of its historic tightening campaign with a big move while the US economy is still strong would help limit the chances of a downturn. But he was careful not to commit the Fed to a similar pace going forward, saying future moves would be based on how the economy performs in the months ahead.
Source: Bloomberg
3287.99
1275.09