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Federal Reserve Chairman Jerome Powell will speak on monetary policy Thursday with business leaders in the Dallas-Fort Worth area. Following his speech, Mr. Powell held a question-and-answer session.
The appearance came a week after policymakers once again voted to cut key interest rates by a quarter of a percentage point (25 basis points). In September, the federal funds rate was cut by 0.5 percentage points, leaving it at a range of 4.5% to 4.75%.
However, this week’s economic indicators revealed that inflation is stagnant, with consumer price inflation at 2.6% and wholesale price inflation at 2.4%. This measure is significantly higher than core inflation, which excludes food and energy costs.
Markets expect the Fed to cut rates again in December as officials assess the effectiveness of policy easing so far, and then likely skip its January meeting.
read more:
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