In a speech last week in Dallas, Chair Jerome Powell made clear that the Fed isn't necessarily inclined to cut rates each time it meets every six weeks. The economy is not sending any signals that we need to be in a hurry to lower rates, Powell said. The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.
Fewer rate cuts would likely mean continued high mortgage rates and other borrowing costs for consumers and businesses. Auto loans would remain expensive. Small businesses would still face high loan rates.
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