Two years ago, Jerome H. Powell warned that controlling inflation would require some pain. Now, he aims for a possible soft landing for the economy.
With inflation down to 2.9% from a 2022 peak of 9.1%, the Fed's challenge has shifted from minimizing economic damage to achieving a soft economic landing.
Despite high interest rates, consumer spending has remained resilient. However, job market indicators are showing signs of weakness, raising potential recession concerns.
As the Federal Reserve approaches a pivotal moment, officials are contemplating the reversal of interest rates, moving towards a strategy aimed at economic stabilization.
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