Fed Chair Jerome Powell said Wednesday that he continues to look at the overall progress that inflation has made in moving back toward the central bank’s 2% target. While the bank’s latest statement did leave out a December reference to strides made in the fight against inflation,

Last month, Fed officials signaled they expect just two rate cuts for all of 2025, a shallower path of reductions than previously anticipated. Policymakers will update their projections on the economy and rates at their next meeting in March. This month’s pause in rate cuts comes amid increasing uncertainty about how inflation will evolve.

After three cuts at the end of last year, Federal Reserve officials paused rate moves as they weigh a solid economy and rising inflation risks. Jerome H. Powell, the Fed chair, said the central bank was not on a “pre-set course.

Fed officials want downward pressure on the economy to ensure inflation cools to 2 per cent target. Read more at straitstimes.com.

The president’s post suggests that he intends to continue his criticism of Fed Chair Jerome Powell on social media, which became a regular feature during his first term.

Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.

The US Fed held rates steady, reaffirming its independence despite President Donald Trump’s demands for cuts. Fed Chair Jerome Powell dismissed political pressure, while Trump accused the Fed of failing to control inflation.

President Donald Trump is renewing his old attacks on the Federal Reserve and its chair, Jerome Powell, after the independent body voted to hold interest rates steady in its first rate decision of the year.

Powell made clear that Fed policymakers are in no rush to reduce interest rates further, after lowering borrowing costs by a full percentage point in the final months of 2024. Whe

The US Fed held policy rates steady, removed a reference to inflation progress, and signaled no rush for cuts. Markets initially fell but trimmed losses as Jerome Powell downplayed concerns over the wording change.

Gross domestic product (GDP) increased at an annual rate of 2.3% in the fourth quarter of 2024, according to the Bureau of Economic Analysis. And weekly jobless claims totaled 207,000 for the week ending January 25, a decrease of 16,000 from the 223,000 reported in the week prior, according to the Department of Labor.