Federal Reserve expects to cut interest rates next year, Fed Chair says  

“The Fed’s Strategy: A rate cut is in sight”

[{"selector":"#anim-db0785b1-8141-4b4c-96bf-eb1978b4e60c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-209b0c00-be1a-4ef8-aba4-c94f381eb2da","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Powell Announces: Federal Reserve Chairman Powell revealed plans to cut interest rates next year.

[{"selector":"#anim-cb21d536-2624-4493-8b07-c026d7892390","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bdd189cb-0ca9-4816-9b3a-b60fd916ea91","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Optimistic outlook: Powell expressed cautious optimism about easing the fight against inflation in 2024.

[{"selector":"#anim-8a04c5b6-2cfe-48b4-8c82-af7d7cde4407","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-18bc36c8-6afa-4084-a9f5-c5d264e34a3e","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Rates unchanged: The decision to keep rates unchanged follows a historic rise in interest rates.

[{"selector":"#anim-0f216508-20e6-4b7a-9bdf-bb114b1c4252","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-17a10979-0930-42b4-aaaf-10234a90b9e2","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Inflation update: Inflation has eased but remains above the Fed’s target.

[{"selector":"#anim-3765b7e2-65d6-4b27-bf31-2271a3f61084","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-4216da41-73db-40bc-ac36-83a3eb65228c","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Economic uncertainty: Powell acknowledged that despite the positive indicators, there is still uncertainty about the economic development.

[{"selector":"#anim-8ee111e8-5fed-44c3-ba59-fe2b71d6cf12","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-953a1cd1-24b6-4a8d-830c-ff18c5fd5cf2","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The economy is resilient: Strong employment and strong consumer spending reflect the economy's resilience.

[{"selector":"#anim-8e65c153-2bd6-4b92-a4f3-a42ba3e97e93","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-526c76e4-61b7-4b1b-a9a8-f98ac204fdc8","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Impact of rising interest rates: Raising interest rates affects the housing market and discourages major corporate investments.

[{"selector":"#anim-5a5242a0-9c5f-4e10-9c18-51a59741ebff","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-701bc222-5972-4f39-9cc8-762c17072aeb","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

GDP Growth: GDP grew significantly, easing fears of a recession.

[{"selector":"#anim-876d97cd-b9d9-4b79-977b-93b775b74814","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f8991056-4030-4f81-9e65-a7363dbce222","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Commitment to target: Powell emphasized his commitment to lowering inflation to his 2% target.

[{"selector":"#anim-058978d5-3b9a-41ff-ad95-d89d6a563e0a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-95faf1cf-34c3-4fb4-b617-4122a952618c","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]