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PATIENT POWELL STILL EXPECTS RATE CUTS IN 2024

Howard Schneider
Updated Mar 7, 2024 – 5.38am, first published at 2.24am
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Washington | The US economy appears nowhere near the point of falling into
recession, Federal Reserve chairman Jerome Powell said, but he noted it remains
unclear when the central bank may cut interest rates and continued progress on
lowering inflation “is not assured”.

Appearing before lawmakers who will face inflation-weary voters this fall,
Powell told members of the House Financial Services Committee “there’s no
evidence, there’s no reason to think, that the US economy is in, or in some kind
of short-term risk of, falling into recession”.



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