FED Chair Jerome Powell Says Officials "Dont See Rate Cuts This Year"
Following the vital decision of the Federal Reserve to raise interest rates by another 25 bps, Fed Chair Jerome Powell says officials “don’t see rate cuts this year.” Moreover, the statements following Powell’s assured commitment to inflation to reach the Fed’s 2% target. Conversely, Powell spoke following the Federal Reserve meetings that indicated yet another increase in interest rates. There, he addressed the budding banking crisis, assuring the safety of the banking sector. JUST IN: Federal Reserve Chair Jerome Powell says FED officials "don't see rate cuts this year." — Watcher.Guru (@WatcherGuru) March 22, 2023 Powell Doesn’t Expect Rate Cuts Today marks a year since the Federal Reserve first set out to combat growing inflation. Subsequently, a plethora of interest rate hikes have been the result of that mission, with the latest arriving today. The Fed faced what was their most crucial meeting in some time, as they debated whether or not t...