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Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates.Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with "long and variable lags"...

Why the Fed cutting interest rates may weaken the U.S. dollar

SeongJoon Cho/Bloomberg via Getty ImagesThe U.S. Federal Reserve may start cutting interest rates before year's end. That could make future trips abroad more expensive for the nation's travelers.That's due to how interest-rate policy affects the strength of the U.S. dollar.Here's the basic idea:...

Powell says Fed has made ‘quite a bit of progress’ on inflation but needs more confidence before cutting

U.S. Federal Reserve Bank Chair Jerome Powell announces that interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin building on June 12, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesFederal Reserve Chair Jerome Powell expressed...