Time has come for interest rate cut, says Fed chair

Quick Summary:

The remarks signal a new fight for the US central bank, after two years battling inflation.

The inflation report was being closely watched after stock market turmoil earlier this month.

The Fed has kept its key lending rate at roughly 5.3% since last July, holding off on cuts pursued by central banks in other countries, including the UK.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Market Bank Rates Time Speech Inflation Prices Rate Interest Powell

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 14:53:45 (14 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 590 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 32 words per sentence (average)

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

Copyright Owner: © BBC Business

News ID: 22231186

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 7 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 11 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #43

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