Fed Governor Lael Brainard wants to see how the economy is performing before making changes on monetary policy.
." "It will take some time to see that work through the economy, so I certainly want to monitor and assess how the economy is reacting to those cuts."
The adjustment Brainard refers to is the three rate cuts by the U.S. central bank this year. Those rate cuts followed four rate hikes in 2018, the last of which contributed to a massive sell-off in U.S. stocks. The Fed's most-recent rate cut came in October. Back then, Chairman Jerome Powell raised the bar for further rate cuts but noted the Fed remains a long way from hiking rates any time soon.
Brainard noted residential investments have improved since the Fed started easing again, but reitertated she wants to "wait for a little bit" before the central bank makes changes as she assesses how "the outlook is adjusting."This is breaking news. Please check back for updates.
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