The Federal Reserve chairman says he still expects three interest rate cuts this year. Interviewed on CBS’s 60 Minutes, Jerome Powell said he thinks the economy “is in a good place” and there’s “no sign of a recession on the horizon.” As a result, Powell said the Fed remains on track to cut interest rates […]
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Powell: Fed on track to cut interest rates three times this year
The Federal Reserve chairman says he still expects three interest rate cuts this year. Interviewed on CBS’s 60 Minutes, Jerome Powell said he thinks the economy “is in a good place” and there’s “no sign of a recession on the horizon.” As a result, Powell said the Fed remains on track to cut interest rates three times this year. He suggested March might be too soon for a rate cut, leading economists to think the first cut is likely to come in May or June.