Fed Chair Goes Before Congress, Expects Rate Cuts This Year

Federal Reserve Chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation.
In prepared testimony, the Fed chief said it will likely be appropriate to begin lower borrowing costs “at some point this year,” but made clear officials are not ready yet.
He is speaking before Congress in Washington.
#politics #fed #economy #business
Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: tinyurl.com/ysu5b8a9
Visit www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with us on...
Twitter: / business
Facebook: / bloombergbusiness
Instagram: / bloombergbusiness
LinkedIn: / bloomberg-news
TikTok: / bloombergbusiness
Connect with Bloomberg Television on:
Twitter: / bloombergtv
Facebook: / bloombergtelevision
Instagram: / bloombergtv

[@dgusev]

Let Jerome finish his precious responses next time, it would give to the public much more benefit, than your interrupts.

[@QuietMrX]

In the land of the blind, the one eyed man is king.

[@spyderqueentrading]

They were really pressuring him today about rate cuts... rate cuts would not be the best thing at this time... Hold rates here... maybe for another year and then hike again

[@maestromoravec]

🤣

[@RebelPlebe]

This is where a rudimentary understanding of economics would come in handy. We need to demand more from our representatives.

[@bradleyforde1787]

Privately owned Fed says they'll never even consider looking at Americans personal accounts. Of course not. You can't consider doing something you're already doing. Lol

[@markm.wright9295]

Congress trying to tell chair Powell what to say? Instead of listening😊 ha ha

[@danny1682]

Ms. Waters, as you know one of the problems re housing is that corporations are buying up huge swaths of available properties and then renting them at rates that people in those areas cannot afford and are getting displaced and sometimes homeless. Maybe there should be regulations.

[@danielmayora8389]

And how do they pay the loan? If the rates are highs? Easy, increase the price of the rent

[@danny1682]

Cities can pass laws which only allow purchases if the person is going to live in the city, even if the person wants to buy more than one property. That will stop the corporations from glomming on to every available property. Supply will increase and meet the Demand. Then Prices will not be artificially high because a Corporation won't be able to price fix properties. Loans needed will be lower in value.@@danielmayora8389

[@bingoSK9]

So much partisan chest puffing... and some are truly misinformed on how money circulates and the dynamics of inflation

[@danca5719]

I'm amazed that Powell can stay calm for the whole thing....

[@dimitrigilchrist5262]

I’m glad we have Jerome Powell as fed chair he has such a stable demeanor I’m confident in his ability to get a hold on the economy.

[@Vampyreq]

1:12:53
Tlaib: Do you support robust rule making for executive compensation, Chairman?
JP: I know the I know that the-
Tlaib: Oh you don't?
Lmfao

[@bradhigerd4838]

I voted Republican all my adult life. Now with Ukraine being ignored by Republicans, I just registered as a Democrat. Republican Party isn’t what it used to be. Not even close.

[@magnolia430]

Praise the Lord 😂 Rep. Gregory Meeks you sound like a recorder, just repeating what every already knows..😂

[@nadejdapanova8500]

this is fire u just gotta practice proper risk mgmt and do the verifications like trader said!! going 7-0 so far

[@AYVYN]

We should clone JPOW and have him run the senate and the house

[@timothygreen6058]

The Broken and the bank and the A I hack are put me in Great danger. And everybody else.. for me all dealers off I need my money because of what they did violation to the stock market

[@brianmanuel1202]

Wonder if Maxine has visited Bankman-Fried in prison yet? When was donating money she was all blowing kisses and happy as could be. 😅😅😅..always amazed how the questioners were a part of the reason the debt has almost doubled in 10 years. And that was with rates at zero for most of that time. At least they care. 😅😅😅

[@om4601]

📰👍

[@timothygreen6058]

The hackers are getting paid for my portfolio investment money. And the bank is still not paying me for my back payment for too Minnesota law judge decision. The citizens Bank along with a house they took. At other bank TD Bank account

[@kiklocus4660]

he made me lose 1 million

[@thatisabsolutelykooooge2211]

How?

[@metroplex3k]

Ahhhhh “diversity” - the democrats answer to everything….

[@TimothyGreen-um1ez]

All deal is off except for all my money that build up. On the economy 💵💪🌍🏦💪⚖️🤳⛑️✉️💚🍏

[@suckit2u1]

Tsunami 😢

[@TimothyGreen-um1ez]

The market account money in the bank 🏦⚖️💵📠💪🌍

[@user-rf8ku9uv6u]

With. Wichai.kiueawijit