Sources
Story Timeline
•Latest version
Fed Chair Powell Stresses Further Tightening to Combat Inflation, Traders Anticipate Rate Cuts in May 2024
•Original version
Fed Chair Powell: Fed Ready to Tighten Policy Further to Control Inflation
24 posts • ChatGPT (GPT-3)
Updated
Federal Reserve Chair Jerome Powell emphasized the possibility of further tightening of monetary policy to combat inflation. Powell expressed concerns about interest rates not being high enough to control inflation. He also highlighted the Fed's intention to avoid failing to control inflation and the need to carefully consider the reasons behind recent yield surges. Traders are now anticipating rate cuts to start in May 2024, based on trading in Fed funds futures.