Consumers to benefit from Fed rate cut, but how much and when? - Harvard Gazette
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from Harvard Gazette5 months ago
The Federal Reserve's decision to cut interest rates by half a percentage point signals support for borrowers and investors amid a strong overall economy.
Harvard Gazettehttps://news.harvard.edu/gazette/story/2024/09/consumers-to-see-benefits-of-fed-rate-cut-but-how-much-and-when-is-less-clear/
Fed Chairman Jerome Powell expressed optimism regarding inflation trends, suggesting that this could be the start of a series of further rate cuts as conditions permit.
Harvard Gazettehttps://news.harvard.edu/gazette/story/2024/09/consumers-to-see-benefits-of-fed-rate-cut-but-how-much-and-when-is-less-clear/
In an interview, economist Jason Furman affirmed the Fed's decision was prudent and necessary, indicating that it may have been slightly larger than expected but aligns with current economic needs.
Harvard Gazettehttps://news.harvard.edu/gazette/story/2024/09/consumers-to-see-benefits-of-fed-rate-cut-but-how-much-and-when-is-less-clear/
Powell emphasized that while maintaining strong employment is critical, the Fed's policy must adapt to market conditions to sustain growth without leading to significant unemployment.
Harvard Gazettehttps://news.harvard.edu/gazette/story/2024/09/consumers-to-see-benefits-of-fed-rate-cut-but-how-much-and-when-is-less-clear/
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