Fed Chair Powell says don’t count on a Dec. rate cut
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After moving to lower rates on Wednesday, Chair Powell took care to say the next cut might not come as soon as the market expects.
Rick Rieder, an asset manager on the short list of possible candidates to be the next chair of the Federal Reserve, said Wednesday he feels interest-rate cuts are in line with a "clearly slowing" labor market and that Fed Chair Jerome Powell was "considerably more hawkish than expected" in his post-meeting news conference.
The Fed leader discussed the reasoning behind the central bank’s decision to cut rates at its second straight meeting as well as the move to stop shrinking its multitrillion-dollar asset portfolio.
In February, the 12 presidents at the regional Federal Reserve banks will need to be reconfirmed in their jobs by the central bank’s Board of Governors. President Donald Trump’s effort to gain control
Federal Reserve Chairman Jerome Powell plans to serve out his term, which ends in May of 2026, but that isn't stopping Treasury Secretary Bessent from moving ahead with finding his replacement.
"The reaction of the bond market should certainly give Fed officials pause," wrote Ed Yardeni, head of Yardeni Research and coiner of the term "bond vigilantes" to describe buyers' strikes in the fixed income markets. "The bond market isn't buying the Fed's cover story that interest rates were too restrictive."
Fed’s Powell says December rate cut isn’t a given, Trump cuts China tariffs, Microsoft, Alphabet beat expectations, and more news to start your day.
Federal Reserve Chairman Jerome Powell said that a lack of key data due to the government shutdown will cause the central bank to be cautious until it has a clearer view of the economy.