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Mar 7, 2024
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us federal reserve chairman jerome powell says he�*s in no rush to cut interest rates until the data signals a meaningfulfall in inflation. and we take a look at how small businesses in singapore are getting a �*swift lift�*. hello and welcome to asia business report. i�*m steve lai. we begin in the us, where federal reserve chairman jerome powell began two days of testimony on capitol hill. he�*s presenting the central bank�*s semiannual monetary policy report, with lawmakers eagle—eyed for clues about interest rates. 0ur north america business correspondent erin delmore has the details from new york. fed chairjerome powell sat firmly in the spotlight on capitol hill on wednesday previewing what is to come in the year ahead as fed officials contemplate when to cut interest rates and by how much. we believe that our policy rate is likely at its peak for this cycle. if the economy evolves broadly as expected, it will likely be appropriate to begin dialling back policy restraint at some point this year. powell appeared before the house financial services committee, the firs
us federal reserve chairman jerome powell says he�*s in no rush to cut interest rates until the data signals a meaningfulfall in inflation. and we take a look at how small businesses in singapore are getting a �*swift lift�*. hello and welcome to asia business report. i�*m steve lai. we begin in the us, where federal reserve chairman jerome powell began two days of testimony on capitol hill. he�*s presenting the central bank�*s semiannual monetary policy report, with lawmakers...
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Mar 21, 2024
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to hear chairman jerome to hear chairmanjerome powell tell at the federal reserve is looking for its goldilocks path forward making sure the bank doesn't reduce interest rate too much too soon or too little too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and five and a half percent it remains unchanged sincejuly. and while the suspense lies around when the suspense lies around when the fed will cut interest rates powell didn't give any hints. he did say the following sustainably 2% goal before going ahead with any rate cuts. he made the case for a cautious path forward. he made the case for a cautious path forward-— path forward. inflation has eased substantially - path forward. inflation has eased substantially while i path forward. inflation has i eased substantially while the labour market has remained strong. that is very good news. but inflation is still too high, all grown progress in bringing it down is not assured. in the path forward is uncertain. assured. in the path forward is uncerta
to hear chairman jerome to hear chairmanjerome powell tell at the federal reserve is looking for its goldilocks path forward making sure the bank doesn't reduce interest rate too much too soon or too little too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and five and a half percent it remains unchanged sincejuly. and while the suspense lies around when the suspense lies around when the fed will cut interest...
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Mar 20, 2024
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will be that jerome powell will be giving thatjerome powell will be giving later on to try to get that sense of when those cuts may start to happen. everyone is waiting for this next leg in the story when interest rates started coming down. i thought ou said started coming down. i thought you said that — started coming down. i thought you said that they _ started coming down. i thought you said that they would - started coming down. i thought you said that they would start l you said that they would start cutting rates today, nearly fell off my chair, maybe it was a glitch in the audio all my bad hearing. what expecting them to say what people looking out for in terms of the running commentary they give?- commentary they give? well, es, no commentary they give? well, yes. no cuts _ commentary they give? well, yes, no cuts today, _ commentary they give? well, yes, no cuts today, think - commentary they give? well, yes, no cuts today, think that is unlikely. i think when people are looking at the language they are going to want to try to understand whether the fed is getting ready to c
will be that jerome powell will be giving thatjerome powell will be giving later on to try to get that sense of when those cuts may start to happen. everyone is waiting for this next leg in the story when interest rates started coming down. i thought ou said started coming down. i thought you said that — started coming down. i thought you said that they _ started coming down. i thought you said that they would - started coming down. i thought you said that they would start l you said that...
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Mar 21, 2024
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i mean, naturally, you're looking at three rate cuts this year, that's what jerome powel is saying. the next part of it is whether you're going to see central banks in asia copy that sort of movement later in the year as well. and the whole theme is one of a very soft landing as long as inflation remains or gets to that 2% to 3% target range. that is what the fed is always targeting, that 2% inflation rate. a lot of the discussions of where this is going is based on the strength of the us economy. can you give us an idea of why the us economy is so strong? you've only gotta look at it as far as equity markets, they've been extraordinary of the last 1a or 15 months. that's been strongly bid up. you've got recently good unemployment in the sense that it is low. that's been strong. and the inflation side, with higher interest rates, is certainly fighting the consumer, but the overall momentum of the economy has been relatively bulletproof. so, as it rolls forward, we've gotta see how that maintains over the northern hemisphere summer. and it mightjust happen to be a relatively good rol
i mean, naturally, you're looking at three rate cuts this year, that's what jerome powel is saying. the next part of it is whether you're going to see central banks in asia copy that sort of movement later in the year as well. and the whole theme is one of a very soft landing as long as inflation remains or gets to that 2% to 3% target range. that is what the fed is always targeting, that 2% inflation rate. a lot of the discussions of where this is going is based on the strength of the us...
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Mar 20, 2024
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with the cost of services spiking, jerome powell and his fellow policymakers are likely to keep rates unchanged for a fixed—rate time, wanting more evidence that inflation is returning to the 2% target. the risk is that the current economic strength won't last. the us economy is strong, inflation coming down towards the 2% target, but the longer they keep their foot on the brakes, the more likely something goes wrong. for small businesses _ something goes wrong. for small businesses preparing _ something goes wrong. for small businesses preparing for - something goes wrong. for small businesses preparing for what - businesses preparing for what they hope will be another surge in demand, the fed's first cut can't come soon enough. after commissioning a record number of shows, and was finally doubling down on plans in india. at this event in mumbai, the big global bosses of amazon have announced shows across lots of genres and languages. india is swiftly becoming one of amazon's most important markets. we becoming one of amazon's most important markets.— important markets. we look a
with the cost of services spiking, jerome powell and his fellow policymakers are likely to keep rates unchanged for a fixed—rate time, wanting more evidence that inflation is returning to the 2% target. the risk is that the current economic strength won't last. the us economy is strong, inflation coming down towards the 2% target, but the longer they keep their foot on the brakes, the more likely something goes wrong. for small businesses _ something goes wrong. for small businesses preparing...
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Mar 7, 2024
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let's stay with that theme, because the boss of the us central bank, jerome powell, has been giving his twice—yearly testimony before congress. financial markets are always on high alert for any hints about the path of interest rates. but mr powell was playing his cards close to his chest. erin delmore has the details in new york. fed chairjay powell sat squarely in the spotlight on capitol hill wednesday, previewing what's to come in the year ahead as fed officials contemplate when to cut interest rates and by how much. we believe that our policy rate is likely at its peak for this tightening cycle. if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. powell appeared before the house financial services committee, the first stop in his two day tour of capitol hill. and he pointed to considerable progress on the economy and said that while inflation remains above the fed's 2% target, it has been easing without significantly increasing unemployment. but while rate cuts are likely this year, he said that
let's stay with that theme, because the boss of the us central bank, jerome powell, has been giving his twice—yearly testimony before congress. financial markets are always on high alert for any hints about the path of interest rates. but mr powell was playing his cards close to his chest. erin delmore has the details in new york. fed chairjay powell sat squarely in the spotlight on capitol hill wednesday, previewing what's to come in the year ahead as fed officials contemplate when to cut...
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Mar 20, 2024
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but with the cost of services biking, jerome powell and his policymakers are looking to keep rates unchanged for a fifth straight time and they want more evidence that they want more evidence that they will return to their 2% target. the risk is the economy's current strength will not last. l115 economy's current strength will not last. ,, ., , economy's current strength will notlast. ,, ., , ,, ., not last. us economy is strong, inflation is _ not last. us economy is strong, inflation is coming _ not last. us economy is strong, inflation is coming back- not last. us economy is strong, inflation is coming back down i inflation is coming back down towards 2% but the longer they keep their foot pressed on the break, the more likely something will go wrong. for small businesses preparing for what they hope will be another surge in demand, the first cut cannot come soon enough. unilever says it will spin off its ice cream business and cut 7,500 jobs worldwide as part of an extensive three—year cost—saving plan. the maker of ben &jerry�*s, wall's and magnum brands says the move will save $8
but with the cost of services biking, jerome powell and his policymakers are looking to keep rates unchanged for a fifth straight time and they want more evidence that they want more evidence that they will return to their 2% target. the risk is the economy's current strength will not last. l115 economy's current strength will not last. ,, ., , economy's current strength will notlast. ,, ., , ,, ., not last. us economy is strong, inflation is _ not last. us economy is strong, inflation is...
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Mar 20, 2024
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but with the cost of service of spiking, jerome powell and his fellow holiday—makers might keep rates unchanged for a fifth time as they want more evidence inflation is returning to the 2% target. the risk is that the current economic strength won't last. ,, current economic strength won't last, ,, . ., ., , current economic strength won't last. ,, ., , ,, ., last. the us economy is strong, inflation coming _ last. the us economy is strong, inflation coming back— last. the us economy is strong, inflation coming back down - last. the us economy is strong, inflation coming back down to l inflation coming back down to the 2% target, but the longer they keep their foot pressed on they keep their foot pressed on the brakes, the more likely something goes wrong. for small businesses _ something goes wrong. for small businesses preparing _ something goes wrong. for small businesses preparing for - something goes wrong. for small businesses preparing for what - businesses preparing for what they hope will be another surge in demand, fed's first cut can't come soon enough. when it comes to v
but with the cost of service of spiking, jerome powell and his fellow holiday—makers might keep rates unchanged for a fifth time as they want more evidence inflation is returning to the 2% target. the risk is that the current economic strength won't last. ,, current economic strength won't last, ,, . ., ., , current economic strength won't last. ,, ., , ,, ., last. the us economy is strong, inflation coming _ last. the us economy is strong, inflation coming back— last. the us economy is...
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Mar 20, 2024
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but with the cost of services spiking jerome powell and his federal policy makers are likely to keep rates unchanged for a third straight time. they want more evidence that inflation is returning to 2% target. the risk is that the economies current strength won't last. economies current strength won't last-— economies current strength won't last. economies current strength won'tlast. ,, ., , , won't last. the us economy is stron: , won't last. the us economy is strong. and — won't last. the us economy is strong, and inflation - won't last. the us economy is strong, and inflation is - won't last. the us economy is| strong, and inflation is coming back down to the 2% target. but the longer they keep their foot pressed on their break the more likely something goes wrong. the small businesses preparing for what they hope will be another surge in demand, the feds first cut can't come soon enough. unilever says it will spin off its ice cream business and cut 7500 jobs worldwide as part of an extensive cost—saving programme. the maker of ben &jerry�*s, wall's and magnum brands says
but with the cost of services spiking jerome powell and his federal policy makers are likely to keep rates unchanged for a third straight time. they want more evidence that inflation is returning to 2% target. the risk is that the economies current strength won't last. economies current strength won't last-— economies current strength won't last. economies current strength won'tlast. ,, ., , , won't last. the us economy is stron: , won't last. the us economy is strong. and — won't last. the...
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Mar 7, 2024
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jerome powell began two days of testimony on capitol hill. he is presenting the semiannual monetary policy with a central bank with lawmakers eagle—eyed for clues about interest rates. fed chairjerome powell sat firmly in the spotlight on capitol hill on wednesday previewing what is to come in the year ahead as fed officials contemplate when to cut interest rates and by how much. we believe that our policy rate is likely at its peak for this cycle. if the economy evolves broadly as expected, it will likely be appropriate to begin dialling back policy restraint at some point this year. powell appeared before the house financial services committee, the first stop on his two—day tour of capitol hill, and he pointed to considerable progress on the economy and said that while inflation remains above the fed's 2% target, it has been easing without significantly increasing unemployment. but while rate cuts are likely this year, he said that the fed is looking for more evidence that inflation is falling sustainably back down to the fed's target a
jerome powell began two days of testimony on capitol hill. he is presenting the semiannual monetary policy with a central bank with lawmakers eagle—eyed for clues about interest rates. fed chairjerome powell sat firmly in the spotlight on capitol hill on wednesday previewing what is to come in the year ahead as fed officials contemplate when to cut interest rates and by how much. we believe that our policy rate is likely at its peak for this cycle. if the economy evolves broadly as expected,...
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Mar 7, 2024
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powell testifying for the senate banking committee. joining me now is erin delmore, our north america business correspondent. what are we expecting him to say to the senators? the what are we expecting him to say to the senators?— the senators? the federal reserve chairman is — the senators? the federal reserve chairman is a _ the senators? the federal reserve chairman is a veteran _ the senators? the federal reserve chairman is a veteran of— the senators? the federal reserve chairman is a veteran of scenes - the senators? the federal reserve| chairman is a veteran of scenes like this, testifying on capitol hill, and had a run at it yesterday in front of the house. he stuck to the script, saying while we can expect interest rates are at their peak, if things continue as they have been, we in to sedate rate cuts ahead but did not give clues on time. he was cautious, walking a tightrope, saying the federal have to see inflation going down sustainably to its 2% target before cutting interest rates. he warned more evidence is necessa
powell testifying for the senate banking committee. joining me now is erin delmore, our north america business correspondent. what are we expecting him to say to the senators? the what are we expecting him to say to the senators?— the senators? the federal reserve chairman is — the senators? the federal reserve chairman is a _ the senators? the federal reserve chairman is a veteran _ the senators? the federal reserve chairman is a veteran of— the senators? the federal reserve chairman is...
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Mar 20, 2024
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powell, gives about the way ahead. inflation — the rate at which prices are rising — is at 3.2% after rising last month in america and is proving rather stubborn to get back to the 2% target. and that's similar to other countries. in the uk we heard a few hours ago that inflation fell to 3.4% — the lowest in two and a half years — but also above a 2% target. and that comes ahead of the bank of england's interest rate decision on thursday. let's talk first about what could happen in the us. claudia sahm is a former federal reserve economist who is now an independent consultant and joins us from washington. good to have you with us. we are not expecting a cut by the federal reserve, but once again it is that guidance that is so important. are we expecting any change to that idea that there could be three moves on rates, given what we are seeing with inflation? . , ., , , inflation? that is absolutely in -la and inflation? that is absolutely in play and again. _ inflation? that is absolutely in play and again, as
powell, gives about the way ahead. inflation — the rate at which prices are rising — is at 3.2% after rising last month in america and is proving rather stubborn to get back to the 2% target. and that's similar to other countries. in the uk we heard a few hours ago that inflation fell to 3.4% — the lowest in two and a half years — but also above a 2% target. and that comes ahead of the bank of england's interest rate decision on thursday. let's talk first about what could happen in the...
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Mar 20, 2024
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powell, gives about the way ahead. that's where it is right now. inflation — the rate at which prices are rising — is at 3.2% after rising last month, and is proving rather stubborn to get back to the 2% target. and that's of course a challenge faced by other countries. in the uk we heard a few hours ago that inflation fell to 3.4%, the lowest in two and a half years, but also above a 2% target. and that comes ahead of the bank of england's interest rate decision on thursday. what could happen next? i've been speaking to the former us federal reserve economist claudia sahm and i asked her if we were expecting any change to the widely held view that the us central bank will cut interest rates three times this year. that's absolutely in play and again, as you said, it is the guidance the federal reserve are giving about what they are likely to do or what individual members of them think we are likely to do and yet the federal funds rate is not changing today. the borrowing rate for consumers and businesses absolutely
powell, gives about the way ahead. that's where it is right now. inflation — the rate at which prices are rising — is at 3.2% after rising last month, and is proving rather stubborn to get back to the 2% target. and that's of course a challenge faced by other countries. in the uk we heard a few hours ago that inflation fell to 3.4%, the lowest in two and a half years, but also above a 2% target. and that comes ahead of the bank of england's interest rate decision on thursday. what could...
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Mar 13, 2024
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and you think it kind of gives jerome powell at the federal reserve some sort of credit to say, no, we need to wait and see. there was pressure to start cutting rates in march, at the beginning of the year. she make itjustifies the federal reserve's resistance to calls for a rate cut in march oras calls for a rate cut in march or as soon as possible. == or as soon as possible. -- absolutely _ or as soon as possible. -- absolutely it _ or as soon as possible. » absolutely itjustifies or as soon as possible. » absolutely it justifies the federal reserve's. they said it won't come down as quickly as possible and we need to be cautious and to be really sure because we don't want to start inflation again, so absolutely justifying the fed's stands. they shrugs off and it didn't speak markets. is that because what is really feeling markets at the moment is companies like nvidia add anything to do with al and technology and not about ai and technology and not about the overall health of the us economy?— the overall health of the us econom ? . ., , ., ., economy? -- and anything to do. to a
and you think it kind of gives jerome powell at the federal reserve some sort of credit to say, no, we need to wait and see. there was pressure to start cutting rates in march, at the beginning of the year. she make itjustifies the federal reserve's resistance to calls for a rate cut in march oras calls for a rate cut in march or as soon as possible. == or as soon as possible. -- absolutely _ or as soon as possible. -- absolutely it _ or as soon as possible. » absolutely itjustifies or as soon...
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Mar 7, 2024
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let's look at the united states first we heard from jerome powell earlier, you can see the nasdaq index, the tech weighted index, up. the price of oil coming off a bit. so that is all for me. so much analysis of the budget online. chris mason our political editor taking a look at what it means for the chancellor, for the prime minister, for the governing conservative party, but of course budget, key points at a glance, what are the key points in that budget and what do they mean for you? you can read all about it on our website. see you soon. hello, there. over the next few days, the winds going to be picking up from the east or southeast. it's going to be particularly windy on friday. we'll have more of the cloud affecting eastern parts of the country. i think some western areas will see most of the sunshine. that's because high pressure over scandinavia will be pushing westwards against this low—pressure system, so we'll start to see the isobars squeezing together. so for thursday, it's a bright start across northern and western areas. quite a chilly start, mind you — early mist a
let's look at the united states first we heard from jerome powell earlier, you can see the nasdaq index, the tech weighted index, up. the price of oil coming off a bit. so that is all for me. so much analysis of the budget online. chris mason our political editor taking a look at what it means for the chancellor, for the prime minister, for the governing conservative party, but of course budget, key points at a glance, what are the key points in that budget and what do they mean for you? you...
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Mar 20, 2024
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but with the cost of services spiking, jerome powell and his fellow policymakers are likely to keep rates unchanged for a fifth straight time. they want more evidence that inflation is returning to their 2% target. the risk is that the economy's current strength won't last. the us economy is strong. inflation is coming back down towards the fed's 2% target, but the longer that they keep their foot pressed on the brake, the more likely something goes wrong. for small businesses preparing for what they hope will be another surge in demand, the fed's first cut can't come soon enough. in other news... the bakery chain greggs has been hit by an it problem, forcing some stores to shut or go cash only. it follows card payment outages at the supermarkets sainsbury�*s and tesco on saturday, and mcdonald's last friday. greggs says it is working to resolve the issue as soon as possible. the train maker alstom has warned that 3,000 jobs could be at risk at its derby site in the english midlands due to a lack of new orders. speaking to the bbc, the company's managing director for the uk also warned
but with the cost of services spiking, jerome powell and his fellow policymakers are likely to keep rates unchanged for a fifth straight time. they want more evidence that inflation is returning to their 2% target. the risk is that the economy's current strength won't last. the us economy is strong. inflation is coming back down towards the fed's 2% target, but the longer that they keep their foot pressed on the brake, the more likely something goes wrong. for small businesses preparing for...
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Mar 21, 2024
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to hear chairman jerome to hear chairmanjerome powell tell at the federal reserve is looking for its goldilocks path forward making sure the bank doesn't reduce interest rate too much too soon or too little too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and five and a half percent it remains unchanged sincejuly. and while the suspense lies around when the suspense lies around when the fed will cut interest rates powell didn't give any hints. he did say the following sustainably 2% goal before going ahead with any rate cuts. he made the case for a cautious path forward. he made the case for a cautious path forward-— path forward. inflation has eased substantially - path forward. inflation has eased substantially while i path forward. inflation has i eased substantially while the labour market has remained strong. that is very good news. but inflation is still too high, all
to hear chairman jerome to hear chairmanjerome powell tell at the federal reserve is looking for its goldilocks path forward making sure the bank doesn't reduce interest rate too much too soon or too little too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and five and a half percent it remains unchanged sincejuly. and while the suspense lies around when the suspense lies around when the fed will cut interest...
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Mar 21, 2024
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to hear chairman jerome to hear chairmanjerome powell tallaght, the federal reserve is looking for its goldilocks path forward, making sure the bank doesn't reduce interest rates too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and 5.5%. it remains unchanged sincejuly, and while the suspense lies around when the fed will cut interest rates, powell did not give any hints. he did say that the fed wants to see inflation falling sustainably towards the 2% goal before going ahead with any rate cuts. he made the case for a cautious path forward. inflation has eased substantially while the labour market has remained strong and thatis market has remained strong and that is very good news. but inflation is still too high. ongoing progress in bringing it down is not assured, on the path forward is uncertain. chairman powell said if all goes as expected this year, rate cuts will be appropriate and that the fed will continue to make decisions meeting by meeting. let's go live to gervais williams, from the invest
to hear chairman jerome to hear chairmanjerome powell tallaght, the federal reserve is looking for its goldilocks path forward, making sure the bank doesn't reduce interest rates too much too soon or too little too late. officials decided wednesday to keep the benchmark interest rate at between five and a quarter and 5.5%. it remains unchanged sincejuly, and while the suspense lies around when the fed will cut interest rates, powell did not give any hints. he did say that the fed wants to see...