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  • Nov 14, 2024

Fed has time to see what Trump policies mean for the economy, Powell says

Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House. "I think it's too early to reach judgments here" and "we don't really know what policies will be put in place," Powell said at a Dallas Fed event. Powell said the Fed will watch to see what elected officials do - Republicans won control of both houses of Congress in the Nov. 5 elections.

  • Nov 14, 2024

Powell says no need for Fed to rush rate cuts given strong economy

In remarks that align with a developing expectation in financial markets for fewer rate cuts next year than previously forecast by Fed officials, Powell affirmed that he and his fellow policymakers still consider inflation to be "on a sustainable path to 2%" that will allow the U.S. central bank to move monetary policy "over time to a more neutral setting." "Fed Chair Powell telegraphed news that markets didn't want to hear but news that was clearly manifest in the last CPI report, that the Fed cannot yet declare victory in its campaign to quell inflation."

  • Nov 14, 2024

Oil Ekes Out Third Straight Gain Even as Outlook Turns Bearish

(Bloomberg) -- Oil edged higher for a third day, settling below $69 a barrel, as traders weighed bullish gasoline draws in the US with a dour long-term outlook. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsA

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