Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Federal Reserve Chairman Powell "suddenly hawkish", saying there is no need to "rush" to cut interest rates

Federal Reserve Chairman Powell "suddenly hawkish", saying there is no need to "rush" to cut interest rates

Bitget2024/11/15 00:55

According to reports, Federal Reserve Chairman Jerome Powell delivered a speech on economic prospects and the path of monetary policy in Beijing time early Friday morning. He stated that the U.S. economy is recovering well, with a robust labor market and inflation falling from its peak, moving towards a 2% target. Therefore, there is no urgent need for rate cuts.

Powell emphasized that the Fed is committed to lowering inflation to target levels while supporting maximum employment. He also mentioned strong economic growth and increased consumer spending but noted weakness in the real estate market. Powell expects inflation will continue to fall towards the 2% target but anticipates some fluctuations along the way. The Fed will adjust policies based on economic data and outlooks to achieve maximum employment and price stability. After Powell's speech, interest rate markets lowered their bets on a Fed rate cut in December. Analysts believe that persistent inflation above the Fed's 2% target adds more uncertainty to actions after its December meeting.

Regarding his term, Powell simply stated he would commit himself fully until it ends: "I must serve till my term concludes; this is most important during my tenure," he said." That's what I've decided upon; it's what I'm considering." His board member term expires in January 2028.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!