The final interest-rate decision of the year is coming this week, and it's likely to give Americans some more financial relief. With near certainty of a 25 basis point cut, the Federal Reserve aims to bolster economic stability in light of rising inflation.
Jerome Powell emphasized, 'we're in a very good place with the economy,' acknowledging however that while the labor market is stronger, inflation rates are still not at the desired targets, highlighting a cautious approach moving forward.
Julia Pollak, chief economist noted, 'I don't think there's that much cause for concern in the labor market data that would lead to them suspending their plan to cut.' This reflects confidence in the Fed's intentions despite external uncertainties.
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