Benzinga
  • 2 days ago
Federal Reserve officials capped 2024 with a third-straight interest-rate cut, signaling that inflation concerns have risen. Chairman Jerome Powell noted that the central bank's inflation projection for the year has “kind of fallen apart.” Officials now anticipate it will take longer for inflation to reach the 2% target, prompting a reduced outlook for rate cuts next year. The shift in focus has sparked market volatility, with U.S. Treasury markets and stocks tumbling while the U.S. dollar strengthened. Officials now project inflation to be higher than expected by the end of next year and don't anticipate reaching the 2% target until 2027.

Category

🗞
News
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street. Federal Reserve officials capped 2024
00:04with a third straight interest rate cut, signaling that inflation concerns have returned to the
00:08forefront. Chairman Jerome Powell noted that the central bank's inflation projection for the year
00:13has kind of fallen apart. Officials now anticipate it will take longer for inflation
00:18to reach the 2 percent target, prompting a reduced outlook for rate cuts next year.
00:22The shifted focus has sparked market volatility, with U.S. Treasury markets and stocks tumbling
00:28while the U.S. dollar strengthened. Officials now project inflation to be higher than previously
00:32expected by the end of next year, and don't anticipate reaching the 2 percent target until
00:372027. For all things money, visit Benzinga dot com slash GSTV.

Recommended

0:38
I
Up next
Fed Chair Powell Stresses Caution on Interest Rate Cuts, Stresses Need for Confidence in Inflation Trend Before Rate Cuts
Benzinga
0:41
Compulsive Gamblers Turn To Stock Market Fueled By Trading Apps, Crypto Volatility
Benzinga
0:41
Tesla Shares Fall 5% Premarket, Extending Losses From 8% Drop Earlier This Week
Benzinga
0:38
Jared Kushner's Affinity Partners Raises $1.5B From Qatar And Abu Dhabi Investment Firms
Benzinga
0:37
Warren Buffett's Berkshire Hathaway Buys $560M In Stocks Amid December Market Pullback
Benzinga
0:30
Biden Forgives Over $4 Billion in Student Loan Debt for Public Service Workers
Benzinga
0:33
Fed Expected to Keep Interest Rates High as Optimism Remains High for September Rate Cuts
Benzinga
0:35
Fed Chair Powell Hints That Interest Rates May Be Cut Before Inflation Hits 2%, Says 'Hard Landing' Unlikely for US Economy
Benzinga
0:58
US Inflation Eases More Than Expected In May, Boosts 2024 Rate Cut Prospects Ahead Of Wednesday's Fed Meeting
Benzinga
0:53
Federal Reserve Raises Interest Rates to Highest Level in Over 22 Years
Benzinga
0:44
U.S. Treasury Yields Jump After Fed Announces Interest Rate Cut
Benzinga
0:47
Fed Chair Powell Pushes Back on Inflation Tolerance Claims, Reiterates Commitment to 2%
Benzinga
1:42
US Federal Reserve raises rates to 22-year-high as it continues fight against inflation
euronews (in English)
1:31
Federal Reserve Announces Pause On Rate Hikes Amid Easing Inflation
Wibbitz Top Stories
0:33
Fed Governor Michelle Bowman: The Possibility of Raising Interest Rates Still on the Table
Benzinga
0:37
Federal Reserve Maintains Interest Rates, Citing 'Lack of Progress.' Sees Future Rate Hikes 'Unlikely.'
Benzinga
0:42
Fed Chair Jerome Powell Sees No Rush for Rate Cuts as Economy Remains Resilient, Advocates Caution
Benzinga
2:21
Why the Fed Should Drop Its 2% Inflation Target
The Street
0:49
Inflation Eases, Wages Rise
Benzinga
0:39
Core Inflation Shows Progress In November, Fed Eyes Rate Cuts In 2025
Benzinga
0:36
Fed Chair Jerome Powell Hints at Possible Interest Rate Cut in September
Benzinga
0:42
October Inflation Rate Rises To 2.6% As Expected: December Interest Rate Cut Remains Uncertain
Benzinga
0:42
Dow Plunges 1,100 Points as Fed Lowers Interest Rate Cut Outlook. Fed’s Powell Cites Uncertainty in Slower Rate Cut Pace.
Benzinga
2:59
Federal Reserve Raises Interest Rates by a Quarter of a Percentage Point
TIME
1:58
US Fed pauses rate hikes, but warns inflation risks persist
The Star