By CNBC (Business) | Created at 2024-11-14 20:05:26 | Updated at 2024-11-22 02:24:02
1 week ago
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Federal Reserve Chair Jerome Powell speaks Thursday to business leaders in the Dallas-Fort Worth area on monetary policy. Powell is delivering a speech followed by a Q-and-A session.
The appearance comes one week after policymakers again voted to lower their key interest rate by a quarter percentage point, or 25 basis points. That followed a half-point cut in September and left the federal funds rate in a range between 4.5% and 4.75%.
Economic readings this week, however, showed that inflation has proven sticky, with consumer price inflation at 2.6% and prices at the wholesale level at 2.4%. The measures are considerably higher for core inflation, which excludes food and energy costs.
Markets expect the Fed to cut again in December then likely skip the January meeting as officials assess the effect of the policy-easing moves so far.
Read more:
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