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Federal Reserve Chair Jerome Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy.
Powell, in a speech Tuesday at the National Association for Business Economics annual meeting, said that the economic outlook appeared unchanged since policymakers met in September, when they lowered interest rates and projected two more this year.
“A rate cut in October is done,” said Julia Coronado, founder of the research firm MacroPolicy Perspectives and a former Fed economist. “Nothing has changed the perspective that there’s still downside risks to the labor market.”
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition Bloomberg's Joe speaks with:
- Bloomberg News Economics Editor Molly Smith.
- Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
- Bloomberg International Economics and Policy Correspondent Michael McKee.
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