Jerome Powell indicates further, smaller rate cuts, insists the US Fed is ‘not on any preset course’

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Jerome Powell indicates further, smaller rate cuts, insists the US Fed is ‘not on any preset course’

Federal Reserve chair Jerome Powell says the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller.

The central bank chief asserted during a speech in Nashville, Tennessee overnight Monday that he and his colleagues will seek to balance bringing down inflation with supporting the labour market and let the data guide future moves.

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