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Fed’s Collins sees ‘in the range of two’ rate cuts for 2024
The post Fed’s Collins sees ‘in the range of two’ rate cuts for 2024 appeared on BitcoinEthereumNews.com. Boston Federal Reserve (Fed) President Susan Collins said on Friday, she sees ‘in the range of two’ rate cuts for 2024. Additional quotes Still expecting inflation pressures to wane later this year. Can’t pre-judge when the Fed can start cutting rates. Sees progress in bolstering bank discount window access. A rate hike not part of baseline but can’t be fully ruled out. Market reaction The US Dollar is paying little heed to the above comments, rising 0.51% on the day to trade at 105.85 against its major counterparts, as the Middle East geopolitical tensions escalate. Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the…
The post Fed’s Collins sees ‘in the range of two’ rate cuts for 2024 appeared on BitcoinEthereumNews.com.
Boston Federal Reserve (Fed) President Susan Collins said on Friday, she sees ‘in the range of two’ rate cuts for 2024. Additional quotes Still expecting inflation pressures to wane later this year. Can’t pre-judge when the Fed can start cutting rates. Sees progress in bolstering bank discount window access. A rate hike not part of baseline but can’t be fully ruled out. Market reaction The US Dollar is paying little heed to the above comments, rising 0.51% on the day to trade at 105.85 against its major counterparts, as the Middle East geopolitical tensions escalate. Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the…
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