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Powell: 50bps Rate Cut Not New Trend, Unlikely to Return to Low Neutral Rates
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After the Fed announced its first rate cut in over four years, Chairman Jerome Powell stated at a press conference that the half-point rate cut should not be seen as a new trend. He personally believes that a return to the previous low neutral rate levels is unlikely. Powell mentioned that if policymakers had known about the weak July employment report during their meeting at the end of the month, officials might have cut rates at that time. However, he emphasized that today's decision to cut rates by 50 bps should be seen as a sign of "not falling behind" in the normalization of rates. AAStocks Financial News |
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