Federal Reserve Chairman Jerome H. Powell reiterated Wednesday that the central bank can take its time before cutting interest rates as inflation eases and economic growth continues. The central bank chief also used a speech he was scheduled to give at Stanford to emphasize the Fed’s independence from politics, a relevant message at a time…
Federal Reserve Chairman Jerome H. Powell said Friday that robust economic growth gives the central bank the flexibility to be patient before cutting interest rates. Fed officials raised interest rates sharply from early 2022 to mid-2023, leaving them at about 5.3 percent since last July. This relatively high level essentially slows down the economy, including…
Stubbornly high inflation could prompt the Federal Reserve to take a more cautious stance toward cutting interest rates this year, the central bank’s former vice chairman said Friday. Richard Clarida, who was Fed governor until January 2022 and is now a global economic adviser at asset management giant Pimco, said his former colleagues need to…
