Chair of the US Federal Reserve Jerome Powell signalled optimism that the US monetary institution had taken the correct path regarding inflation, but stressed it was focused on maintaining a data dictated course.
Speaking at the National Association for Business Economics Annual Meeting yesterday (30 September), Powell said the US economy was "strong" and had made "significant progress over the past two years" towards achieving its dual mandate goal of maximising employment and stable prices. Investors relieved by 'aggressive' Fed rate cut but question need of large snip Powell pointed to a "solid" labour market, and said "I have greater confidence that [inflation] is it on a sustainable path back to 2%". Last month, the Fed cut US interest rates by 50bps, the first rate reductions in four ...
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