00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Federal Reserve Chair
00:03Jerome Powell said inflation expectations remain anchored despite rising energy prices
00:08and indicated the central bank does not need to raise interest rates, according to CNBC.
00:13He said the Fed should look beyond short-term energy market swings
00:16and focus on stable prices and low unemployment.
00:18Powell said the current rate range of 3.5% to 3.75% is appropriate
00:23as the Fed observes the impact of the Iran war and tariffs.
00:26Markets reduced expectations for a rate hike, with December odds falling to 2.2%.
00:31Powell said rate hikes now could harm the economy due to delayed policy effects.
00:35He said private credit risks show a correction with losses,
00:38but no signs of broader systemic contagion.
00:40For all things money, visit Benzinga.com.
Comments