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No Fed pivot in sight as Powell addresses rate cuts on 60 Minutes

There was rampant speculation after the Federal Open Market Committee (FOMC) meeting last week about the timing and number of interest rate cuts this year. In a follow-up interview on 60 Minutes on Sunday, Federal Reserve Chairman Jerome Powell did not sound like someone who has pivoted.

In fact, Powell believes the Fed can wait until it sees more labor damage before cutting the Federal Funds Rate aggressively or moving toward a neutral policy stance, saying again that a March rate cut is “unlikely.”

In December, the Fed talked about three rate cuts in 2024 but some people made a details ⇒

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