Banking
US Fed prepares to shift to rate cuts in 2024 as inflation eases
Federal Reserve chairman Jerome Powell signalled cuts next year, but said it was prepared to resume interest rate increases if inflation pressure returned
The US Federal Reserve (Fed) pivoted toward reversing the steepest interest-rate hikes in a generation after containing an inflation surge so far without a recession or a significant cost to employment.
Jerome Powell, Fed chairman, said on Wednesday that policymakers were prepared to resume rate increases should price pressures return, but he and his colleagues issued forecasts showing that a series of cuts would be likely next year.
Powell said the topic came up at ...
