Federal Reserve Chair Jerome Powell held a briefing Wednesday afternoon as the central bank was set to cut interest rates for a third time.
The decision came as inflation picked up slightly last month, but a booming November jobs report and turnarounds in consumer confidence may give the bank reason to delay future reductions in interest rates. The latest move also comes as President-elect Trump — whose financial policies have been flagged by experts as potentially raising inflation and deficits — prepares to return to the White House.
The Fed first cut rates by half a point in September and then issued another quarter-point reduction to its baseline in November.
Powell was also expected to address the Fed’s outlook going into 2025.
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