The Federal Reserve decided to keep its key interest rate steady, after three consecutive cuts, amid a changing political and economic landscape. The decision was influenced by a stable labor market and somewhat elevated inflation. Investors are waiting for more details from Chair Jerome Powell. Although President Trump has expressed a desire for rate cuts, the Fed remains independent. The Fed’s preferred pricing gauge shows inflation slightly increasing. Markets expect no further rate cuts until June. Economic growth has been solid, with GDP tracking at 2.3% for the fourth quarter. The voting composition on the FOMC has changed, with new regional presidents joining the board.
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