Jerome Powell Signals Fed to Extend Interest Rate Pause

Jerome Powell Signals Fed to Extend Interest Rate Pause

Updated October 19, 2023 at 4:22 p.m. ET

Chairman of the Federal Reserve Jerome Powell suggested that rising long-term Treasury yields could allow the central bank to pause a historic series of interest rate hikes as long as recent progress in inflation continues.

Powell’s remarks in a midday speech Thursday in New York followed closely those of his colleagues who had indicated in recent days that they would keep short-term interest rates steady at their next meeting on October 31 at November 31. 1.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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