None
FR
Jerome Powell says economy has ‘clearly improved’ since December as he defends rate pause
['Christopher Rugaber', 'The Associated Press']
Fortune | FORTUNE
The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
With the economy growing at a healthy pace and the unemployment rate appearing to level off, Fed officials likely see little reason to rush any further rate cuts.
According to the Fed’s preferred measure, inflation was 2.8% in November, slightly higher than a year ago.
Powell suggested that there may not be that many more rate cuts needed.
The Conference Board’s measure of consumer confidence dropped to an 11-year low in January, the business research group said Tuesday.