Fed Holds Rates Steady, Powell Teases September Rate Cut and Talks CBDC Future - Kitco News

Published: 31 July 2024
on channel: Kitco NEWS
4,403
217

Jeremy Szafron, Anchor at Kitco News, delivers the latest updates from the Federal Reserve. The FOMC has decided to hold interest rates steady at their current range of 5.25% to 5.5%, the highest level in over two decades. However, Fed Chair Jerome Powell hinted that an interest-rate cut could come as soon as September. Powell emphasized the Fed's balanced approach to managing inflation and employment risks, noting that the job market remains strong but not overheated. He also highlighted that consumer spending has slowed but remains solid, and the US economy appears to be 'normalizing'. Powell addressed the topic of a central bank digital currency (CBDC), stating that the Fed is not looking to implement anything at the moment. Powell's dovish comments extended a rally in stocks, with the S&P 500 up by 2%. Treasury yields fell across the curve, and the dollar slipped against all of its developed-market peers. Traders are now pricing in a minimum of two rate cuts this year, with the first expected at the Fed’s next meeting. Stay tuned for more insights and expert analysis on Kitco News.

Follow Jeremy Szafron on X: @JeremySzafron (  / jeremyszafron  )
Follow Kitco News on X: @KitcoNewsNOW (  / kitconewsnow  )

#FederalReserve #InterestRates #JeromePowell #RateCut #CBDC #MonetaryPolicy #KitcoNews #Economy #FinancialNews #MarketUpdate #StockMarket #Investment #EconomicPolicy
__________________________________________________________________
Kitco News is the gold standard in precious metals, commodities, cryptocurrencies, mining, and financial news.

SUBSCRIBE to our channel to stay up to date on the latest market and industry news.

For breaking news, views, charts, and data on precious metals, cryptocurrencies, and financial markets - visit us at https://www.kitco.com

To get market updates on the go, download the Kitco Gold Live! APP - https://applications.kitco.com

Stay connected:

Twitter -   / kitconewsnow  
Instagram -   / kitconews  
Facebook -   / kitconews  
LinkedIn -   / kitconews  
StockTwits - https://stocktwits.com/kitconews

Live gold price and chart: https://www.kitco.com/gold-price-toda...
Live silver price and chart: https://www.kitco.com/Silver-price-to...
Live crypto market data: https://www.kitco.com/price/crypto/

Learn more about Kitco News: https://www.kitco.com/news/about/

For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: www.kitco.com/advertising

Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.


Watch video Fed Holds Rates Steady, Powell Teases September Rate Cut and Talks CBDC Future - Kitco News online without registration, duration hours minute second in high quality. This video was added by user Kitco NEWS 31 July 2024, don't forget to share it with your friends and acquaintances, it has been viewed on our site 4,403 once and liked it 217 people.