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Added on the 19/10/2020 17:04:34 - Copyright : Wochit
Federal Reserve chair Jerome Powell says that the "time has come" for the United States to start cutting interest rates. "The time has come for policy to adjust," he says in a keynote speech at the Jackson Hole Economic Symposium in the US state of Wyoming, according to prepared remarks, adding: "The direction of travel is clear." SOUNDBITE
"My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE
The Federal Reserve will need "substantially more evidence" to be confident that inflation is on a sustained downward path, says Federal Reserve Chair Jerome Powell. SOUNDBITE
Federal Reserve Chair Jerome Powell says US spending and production data "has softened" and consumer spending "slowed significantly", as the central bank decided to again raise the benchmark interest rate by 75 basis points to tame spiraling price pressures. SOUNDBITE
US Federal Reserve Chair Jerome Powell says it is "essential" to bring down inflation for the US to have "sustained period of strong labor market conditions that benefit all." The Federal Reserve on Wednesday raised the benchmark lending rate by a half percentage point in its ongoing effort to contain the highest inflation in four decades. SOUNDBITE
The US economy is showing signs of improvement since the beginning of the Covid-19 pandemic, yet hardest hit sectors have "not fully recovered," US Federal Reserve Chair Jerome Powell announces after a two-day policy meeting. The central bank cautioned that risks remain on the path to full recovery and said it will monitor the economy's progress before pulling back on its bond buying program. IMAGES