US Fed Meeting Updates: Jerome Powell Says No Urgency To Adjust Policy—As It Happened
The US Federal Reserve kept its benchmark interest rate unchanged on Wednesday at the range of 4.25%-4.5% after three consecutive cuts.
US Fed Meeting Live: Powell Sets Out Position On Crypto And Banking
Federal Reserve Chairman Jerome Powell says banks can serve customers who use cryptocurrencies. The Fed's role is to supervise banks that deal with crypto businesses.
Powell also says households need to understand the risks of investing in cryptocurrencies. The Fed wants people to be aware of the potential risks before they invest.
US Fed Meeting Live: Fed Will Not Need 2% Inflation For Rate Cuts, Says Powell
The recent rise in long-term interest rates is attributed to the term premium, rather than inflation expectations, Powell said, emphasising that achieving a 2% inflation rate is not necessary for the Fed to lower interest rates.
He also mentioned that the current policy stance is restrictive, but not excessively so. Additionally, Powell observed that asset prices are elevated by many metrics, and lower-income households are facing significant financial pressure.
US Fed Meeting Live: Interest Rates Now 'Meaningfully Above' Neutral," Says Jerome Powell
Federal Reserve Chairman Jerome Powell said that interest rates are now significantly higher than the neutral rate. Powell added that the central bank's policy actions are having a noticeable impact on the economy.
US Fed Meeting Live: S&P 500, Nasdaq 100, Dow Jones Pare Losses After Jerome Powell’s Inflation Remarks—Markets Update
Here’s how US markets are reacting as of 01:29 a.m. IST:
Dow Jones down by 0.1% to 44,766.50.
S&P 500 fell 0.3% to 6,046.40.
Nasdaq fell 0.2% to 21,415.49.
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US Fed Meeting Live: No Need for Labour Market to Cool Off Further, Says Fed Chair Jerome Powell
Fed Chair Jerome Powell said that he does not think the labour market needs to cool off any more.
