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Federal Reserve Chairman Jerome Powell spoke at the Stanford Business, Government and Society Forum on Wednesday. He will deliver prepared remarks followed by a question-and-answer session with the moderators.
Newest: Fed’s Powell stresses need for more evidence that inflation is slowing before cutting rates
Previously, the Federal Reserve kept interest rates steady at last month’s meeting, and Powell said the central bank may lower interest rates later this year. But he also said the timing was uncertain and policymakers needed more evidence that inflation was moving toward the Fed’s 2% target.
Other officials have since echoed those comments. They expect an unknown number of rate cuts, but the exact timing is uncertain. Atlanta Fed President Raphael Bostic said Wednesday that he thinks there will likely be only one rate cut this year, even as colleagues on the Federal Open Market Committee have suggested three cuts.
The market expects the Federal Reserve to start implementing easing policies in June or July, and to implement a total of three interest rate cuts by the end of 2024.
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Atlanta Fed President Bostic expects only one rate cut this year, in the fourth quarter
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