By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. November 7, 2024. Article no 1294.

The U.S. Federal Reserve has announced a quarter-point interest rate cut, reflecting ongoing adjustments to its monetary policy in response to economic conditions. This decision comes as part of the Fed’s strategy to stimulate growth amid concerns about inflation and economic stability. The last cut of rates was on September 18.

Jerome Powell’s Commitment
Federal Reserve Chair Jerome Powell has reiterated his intention to remain in his position until the end of his term, which is set to expire in May 2026. In a recent statement, Powell emphasized that he has no plans to leave the Fed before this term concludes.

Read also : Gold : Build Your Wealth and Freedom

Trump’s Position on Powell
In related news, President-elect Donald Trump is reportedly inclined to allow Powell to complete his term as chair of the Federal Reserve.

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A senior adviser indicated that Trump’s economic team currently supports Powell’s leadership during this critical period of interest rate adjustments. Despite past tensions between Trump and Powell, including public criticisms regarding interest rate policies, the prevailing view within Trump’s team is that continuity in the Federal Reserve leadership is preferable as they navigate economic challenges.

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© Copyright 2024 – Eurasia Business News. Article no. 1294