Federal Reserve Chair News Conference
2023-06-14T17:21:43-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMWNhXC8wMTRcLzE2ODY3Njc0OTdfMDE0LmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19During a June news conference, Federal Reserve Chair Jerome Powell announced a pause in interest rate hikes, thus keeping the federal funds rate at a level between 5 to 5.25%. The pause marked a change in policy, as the Fed had raised rates 10 times in a row since March 2022--reportedly the fastest pace in four decades--in order to lower inflation. However, Chair Powell said rate hikes were likely in the near-future to bring down inflation to 2%. He gave projections for future federal funds rates, forecasting 5.6%, 4.6%, and 3.4% at the end of the respective years of 2023, 2024, and 2025.
During a June news conference, Federal Reserve Chair Jerome Powell announced a pause in interest rate hikes, thus keeping the federal funds … read more
During a June news conference, Federal Reserve Chair Jerome Powell announced a pause in interest rate hikes, thus keeping the federal funds rate at a level between 5 to 5.25%. The pause marked a change in policy, as the Fed had raised rates 10 times in a row since March 2022--reportedly the fastest pace in four decades--in order to lower inflation. However, Chair Powell said rate hikes were likely in the near-future to bring down inflation to 2%. He gave projections for future federal funds rates, forecasting 5.6%, 4.6%, and 3.4% at the end of the respective years of 2023, 2024, and 2025. close
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- Fed Statement on Pausing Interest Rate Hikes
Federal Reserve
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