{"id":52621,"date":"2024-09-18T14:51:54","date_gmt":"2024-09-18T18:51:54","guid":{"rendered":"https:\/\/www.businessupturn.com\/usa\/?p=52621"},"modified":"2024-09-18T14:51:54","modified_gmt":"2024-09-18T18:51:54","slug":"fed-cuts-rates-by-50-basis-points-fomc-chair-powells-speech-highlights-strong-economy-and-cooling-labor-market","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/fed-cuts-rates-by-50-basis-points-fomc-chair-powells-speech-highlights-strong-economy-and-cooling-labor-market\/52621\/","title":{"rendered":"Fed cuts rates by 50 basis points, FOMC Chair Powell\u2019s speech highlights strong economy and cooling labor market"},"content":{"rendered":"<p>Federal Reserve Chair Jerome Powell delivered a key speech today, emphasizing the overall strength of the U.S. economy, while the Fed took action to cut interest rates by <strong>50 basis points<\/strong> to a range of <strong>4.75% to 5%<\/strong>. This rate cut reflects the Fed\u2019s growing confidence in balancing inflation control with a strong labor market.<\/p>\n<p>Key points from Powell\u2019s speech included:<\/p>\n<ul>\n<li><strong>\u201cEconomy is strong overall\u201d<\/strong>: Powell noted that the U.S. economy continues to show resilience and stability.<\/li>\n<li><strong>\u201cGrowing confidence\u201d<\/strong>: The Fed now has increased confidence in its ability to maintain a healthy labor market and control inflation simultaneously.<\/li>\n<li><strong>\u201cIndicators suggest labor market is now less tight than just before the pandemic\u201d<\/strong>: Powell pointed out that the labor market, while still robust, is cooling from the overheated state seen in the years leading up to the pandemic.<\/li>\n<\/ul>\n<p>These remarks came as the Federal Reserve made the significant decision to lower interest rates, signaling optimism about future economic conditions while ensuring inflation remains under control. Powell\u2019s speech reinforced the Fed\u2019s commitment to a stable and prosperous economic environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chair Jerome Powell delivered a key speech today, emphasizing the overall strength of the U.S. economy, while the\u2026<\/p>\n","protected":false},"author":1,"featured_media":52616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-52621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/52621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=52621"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/52621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/52616"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=52621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=52621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=52621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}