Jerome H. Powell has been a member of the Board of Governors of the Federal Reserve System (FRB) since May 25, 2012, appointed by then-President Barack Obama to fill an unexpired term. He was reappointed by Obama and sworn in on June 16, 2014, for a term that expires on Jan. 31, 2028.
Federal Reserve Chair Jerome Powell discussed the central bank’s decision to hold the benchmark federal-funds rate at its current range around 4.3% after three consecutive rate cuts beginning in September,
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The Federal Reserve is widely expected to keep interest rates unchanged as its two-day policy meeting concludes on January 29. Investors are nearly unanimous in anticipating that the Fed will maintain rates within the current 4.
President Trump has said he will "demand" lower interest rates, raising questions about his ability to influence the Federal Reserve.
Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.
Chairman Jerome Powell said the central bank is in wait-and-see mode amid mostly positive U.S. economic conditions.
Trump’s blasting of the Federal Reserve and Jerome Powell came just hours after the announcement that interest rates would stand at 4.25% to 4.5%.
U.S. stocks ended lower on Wednesday, but off their lows of the day, with the Federal Reserve holding interest rates steady as expected and Fed Chair Jerome Powell offering soothing comments for investors.
Economists expect that real GDP grew about 2.3% in the period, below the third quarter’s growth rate, due to a trade deficit in goods.
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.