Fed Chair Powell says the US economy is in ‘solid shape’ with gradual rate cuts coming

Federal Reserve Chair Jerome Powell signaled more gradual interest rate cuts are likely, aiming to support a still-healthy economy rather than moving rapidly.

Speaking at a business conference, Powell confirmed two more quarter-point cuts are expected this year, disappointing investors hoping for larger reductions.

The Fed’s focus has shifted from fighting inflation to maintaining employment and economic growth, with inflation at 2.2% and unemployment at 4.2%, the Associated Press has reported.

read more: https://apnews.com/article/powell-federal-reserve-interest-rate-cuts-c8eed8640d8bd5b7fcb2a47ec70960e6

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