Fed prepares for September rate cut as Powell shifts focus to jobs

Quick Summary:

Fed chief Powell focused on sticking soft landing for economy.

Fed officials still want to see monthly price numbers continuing to trend down toward their 2 per cent annual inflation goal before they commit to lowering borrowing costs from a two-decade high.

The Fed’s preferred inflation gauge has eased to 2.6 per cent, and the once overheated labour market has cooled to pre-pandemic levels.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Inflation Policy Labour Officials Powell July September Rates Market Central Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 07:27:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1151 words

Reading Time: 7 minutes read

Sentences: 41 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21678652

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 23 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 2 hours ago

Coverage Areas: Singapore

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Publisher ID: #25

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