• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Jerome Powell Suggests Fed May Cut Interest Rates Before Election Day
Business

Jerome Powell Suggests Fed May Cut Interest Rates Before Election Day

July 31, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Federal Reserve Chair Powell Holds His News Conference Following The Federal Open Market Committee Meeting
Share
Facebook Twitter LinkedIn Pinterest Email

An interest rate cut at the Federal Open Market Committee (FOMC) in September is “on the table,” Federal Reserve Chairman Jerome Powell said during a press conference on Wednesday.

The news comes after the Fed decided to keep the federal funds rate target range between 5.25% and 5.5%, marking the eighth meeting in a row where the FOMC has chosen not to adjust the rate. A rate cut at the FMOC’s next meeting in September — less than two months before the November presidential election —would be in line with investor expectations, as 100% of interest rate traders currently expect a September cut, according to the CME Group’s FedWatch Tool. (RELATED: Maxine Waters Badgers Fed Chair Into Praising ‘Diversity And Inclusion’ In Congressional Hearing)

“The question will be whether the totality of the data — the evolving outlook in the balance of risks — are consistent with rising confidence on inflation and maintaining a solid labor market,” Powell said. “If that test is met, a reduction in our policy rate could be on the table as soon as our next policy meeting in September.”

WATCH:

Powell’s bullish comment comes after recent data has signaled falling inflation and a softening labor market.

Inflation fell to 3.0% year-over-year in June compared to 3.3% in May, still stubbornly higher than the Fed’s 2% target, but well below its peak of 9% in June 2022. The inflation rate was just 1.4% when Biden took office in January 2021.

The unemployment rate ticked up slightly from 4% to 4.1% in June.

“We are back to labor conditions that are closer to 2019 conditions,” Powell remarked at Tuesday’s press conference. “I don’t think of the labor market as a key driver of inflation anymore.” Powell also added that “inflation has eased, but remains over [the Fed’s] stated goal of 2%.”

See also  Jerome Powell Predicts When Americans Will Feel Ripple Effects From Trump’s Global Tariffs

Reduced rates often lead to a spike in stock prices, as the lower rate of return on U.S. treasury bills makes equities look more attractive to investors by comparison, according to U.S. Bank.

Lower interest rates would also mean a lower cost of borrowing, which could boost purchasing power for businesses and consumers, and spur economic growth, thus boosting the Democrats chances of keeping the White House in November, ABC News reported in December.

“A good economy benefits an incumbent,” Ray Fair, a professor at Yale University who oversees a model that forecasts elections based on economic conditions, told ABC News. “A bad economy goes the other way.”

Americans have been struggling with the current elevated cost of borrowing. Credit card delinquency rates reached their highest level since 2012 in the first quarter of 2024, with 2.59% of credit card balances more than 60 days overdue and total revolving balances hitting a record $628.6 billion.

“The broad sense of the committee is that we are getting closer to the point at which it would be appropriate to reduce our policy rate,” Powell told reporters at the FOMC meeting. 

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

cut Day Election Fed interest Jerome Powell rates suggests
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Captain Guilty For 2019 River Cruise Disaster That Killed 27 Tourists

September 29, 2023

Father Who Survived 9/11 Dies Rescuing Kids in Lake Michigan

July 7, 2023

Moody’s changes US ratings outlook to negative, affirms AAA

November 11, 2023

REPORT: Reality Stars Accuse NBC And Bravo Of Sexual, Mental Health Exploitation

August 5, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Allison Mack, Actress Involved in Sex-Trafficking Cult NXIVM, Released from Prison

July 6, 2023

Piers Morgan Says He Was ‘Hired to Be Controversial’ on ITV

September 21, 2023

Single mom paralyzed after being body-slammed to the ground during violent robbery, children say she’s the family’s only breadwinner

March 19, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.