11/17/2024

Relief from Higher Rates is Uncertain

The Fed signals slower move on cuts

Households and businesses may have to wait longer to see lower borrowing costs, with Federal Reserve officials signaling a less aggressive tone to trimming their benchmark interest rates as Donald Trump prepares to return to the White House.

Fed watchers are reading the tea leaves and starting to believe there is a greater chance the central bank may skip a rate cut at its last meeting of the year in December, after a batch of strong economic data signaled the economy may not need more juice.

After two consecutive rate cuts in recent months and an economy in strong shape, the Fed will take its time deciding whether to continue lowering borrowing costs, Fed Chair Jerome H. Powell said Thursday.

Please select this link to read the complete article from The Washington Post.