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Mar 21, 2024
By: Bhumi Shrivastava
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The Federal Reserve held steady on interest rates, maintaining its prediction for three rate cuts despite a strong job market.
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1.
Fed Chair Powell searched for confirmation that inflation is approaching the 2% target, anyway of the recent hike in inflationary data.
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2.
Strong hiring won't warn the Fed from considering rate cuts, highlighting that job market strength alone isn't a cause for inflation concern.
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3.
Even with recent increases in inflation indicators, Powell sees them as part of a slow downward trend toward the 2% target.
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4.
Powell's stance suggests a weakness towards rate cuts, needing a solid reason not to cut rates rather than the opposite.
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5.
The Fed remains focused on sustaining economic growth while managing inflation, with market stability and risk appetite supported by its continued rate cut projections.
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