Fed Chair Jerome Powell will face his most serious test in the job yet when he speaks Friday at the annual economic powwow in Jackson Hole, Wyoming. He is facing political pressure from Trump, and expectations from many investors, to deliver more rate cuts
Powell will need to assure markets — which appear to have already assumed another rate cut will come in September — that the Fed will do whatever it can to support the economy amid growing fears of a US slowdown. At the same time, he can't overpromise and risk further turmoil. "He has to be careful," said Nathan Sheets, chief economist at PGIM Fixed Income and a former Treasury Department official in the Obama administration.
Their formal mission is to strike a balance: to keep the job market humming, without overheating the economy and causing inflation. It's the chair's job to steer the group. "The most important thing for Powell is he's not the dictator of the Fed," said Brian Rose, senior American economist at UBS Global Wealth Management.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Powell Faces Challenge Defining Doctrine Around When to Cut RatesFed Chairman Jerome Powell’s challenge in the weeks ahead is to articulate clearly why the central bank is likely to continue reducing rates absent obvious signs of economic deterioration.
Baca lebih lajut »
For 'When They See Us,' Jharrel Jerome finds the heart of Central Park 5's Korey Wise'When They See Us' puts the Central Park 5 squarely in the sights of young actor Jharrel Jerome, who earned an Emmy nomination for playing Korey Wise.
Baca lebih lajut »
Fed's Powell will find it hard not to rock markets with his comments FridayFed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.
Baca lebih lajut »
Trump slams Fed Chair Powell: 'He’s like a golfer who can’t putt'President Donald Trump continued his months-long criticism of Federal Reserve Chair Jerome Powell on Wednesday.
Baca lebih lajut »
Trump says the Fed is the 'only problem' with economy, calls Powell 'a golfer who can't putt'These are the stocks posting the largest moves before the bell.
Baca lebih lajut »
Former Trump official Dina Powell has helped put Goldman Sachs in the running for a role in Saudi Aramco's IPOThe former deputy national security adviser is reportedly part of the team trying to seal the deal for the bank.
Baca lebih lajut »