March 4, 2024 8:39 am

Fed Chair on 60 Minutes tonight. Will probably signal no rate decrease. Bank stocks to get crushed.

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(Bloomberg) — Federal Reserve Chair Jerome Powell will appear on CBS News’s 60 Minutes this Sunday and will discuss inflation risks, expected rate cuts and the banking system, among other topics, the network said.

CBS announced his appearance on the social media platform X on Thursday, the same day that the interview was conducted. Powell last appeared on the program in April 2021.

The Fed, which left interest rates unchanged at a policy meeting earlier this week, is in the midst of a policy pivot. It’s moving away from the aggressive interest-rate increases of the past two years and turning to a period where it’s assessing when it can cut rates.

During a press conference following the Fed’s meeting Wednesday, Powell said that a cut is unlikely to come at the next gathering in March, which some market participants had been betting on.

The Fed chief expressed optimism at recent cooling inflation data, but said he’s concerned that prices fail to fully return to the central bank’s 2% target.

finance.yahoo.com/news/fed-powell-discuss-interest-rates-000705128.html
finance.yahoo.com/news/social-security-income-inequality-problem-084400087.html

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Original Source: Fed Chair on 60 Minutes tonight. Will probably signal no rate decrease. Bank stocks to get crushed.

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