⚠️🚨🚨The IN-DEPTH Fed's Decision on Interest Rates!! 🚨🚨 ⚠️
Federal Reserve Holds Interest Rates Steady Amidst Stalled Inflation Progress 📢
In a recent development, the Federal Reserve has chosen to maintain its benchmark interest rate at current levels, citing a lack of progress in reaching its 2% inflation target. Fed Chair Jerome Powell emphasized the challenges associated with curbing inflation and expressed readiness to sustain the current interest rate range for an extended period, if needed.
During a post-meeting press conference, Powell assured reporters that the central bank is prepared to uphold the current federal funds rate target, underscoring a cautious approach to monetary policy in light of prevailing economic conditions. Moreover, the Fed announced its decision to slow the pace of reducing its balance sheet starting in June, aiming to prevent market volatility and stress similar to that experienced in September 2019.
This move by the Federal Reserve signals a commitment to supporting the economy while closely monitoring inflation dynamics and financial market stability. The decision reflects the Fed's dual mandate of maintaining price stability and promoting maximum employment.
Source: barrons.com
Published: May 1, 2024
