Benzinga
  • 12 hours ago
Federal Reserve officials capped 2024 with a third-straight interest-rate cut, signaling that inflation concerns have risen. Chairman Jerome Powell noted that the central bank's inflation projection for the year has “kind of fallen apart.” Officials now anticipate it will take longer for inflation to reach the 2% target, prompting a reduced outlook for rate cuts next year. The shift in focus has sparked market volatility, with U.S. Treasury markets and stocks tumbling while the U.S. dollar strengthened. Officials now project inflation to be higher than expected by the end of next year and don't anticipate reaching the 2% target until 2027.

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00:00It's Benzinga, bringing Wall Street to Main Street. Federal Reserve officials capped 2024
00:04with a third straight interest rate cut, signaling that inflation concerns have returned to the
00:08forefront. Chairman Jerome Powell noted that the central bank's inflation projection for the year
00:13has kind of fallen apart. Officials now anticipate it will take longer for inflation
00:18to reach the 2 percent target, prompting a reduced outlook for rate cuts next year.
00:22The shifted focus has sparked market volatility, with U.S. Treasury markets and stocks tumbling
00:28while the U.S. dollar strengthened. Officials now project inflation to be higher than previously
00:32expected by the end of next year, and don't anticipate reaching the 2 percent target until
00:372027. For all things money, visit Benzinga dot com slash GSTV.

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