Fed's Powell: Central bank forecasts don't point to urgent action
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Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner
By Michael S. Derby
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell said Wednesday that central bank forecasts for the path of interest rate cuts don't imply an urgent process.
“There’s nothing in the (Summary of Economic Projections) that suggest the Committee is in a rush to get this done," Powell said in reference to how fast the central bank is likely to cut rates. But he added in his press conference following the latest Fed meeting that the data will drive monetary policy choices and rate cuts will happen faster or slower as needed.
(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)
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