Bloomberg Businessweek
Powell Signals Fed Will Raise Rates If Needed
Aug 25, 2023
Bloomberg News correspondent reports on Powell's remarks at Jackson Hole symposium. BitGo CEO discusses regulation for digital funds. Businessweek Editor covers exploding US budget deficits. Expert discusses rising interest rates and stock market impact.
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Quick takeaways
- The Federal Reserve is committed to supporting the economy through accommodative monetary policy and will raise interest rates if necessary.
- The increasing budget deficit and government spending could have implications for interest rates and inflation, raising concerns about the long-term impact on the economy and financial markets.
Deep dives
The Fed's Message of Continuing Financial Support
The Federal Reserve, led by Chair Jerome Powell, delivered a message reaffirming its commitment to supporting the economy through accommodative monetary policy. Powell stated that interest rates will remain low until the economy reaches its goals, and that the central bank will provide additional support if necessary. While Powell noted some progress, he emphasized the need for further improvement in employment and inflation metrics. The Fed's stance suggests a cautious approach towards tightening policy, which could continue to bolster investor sentiment and support equity markets.
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