The US Federal Reserve is well-positioned to “wait and see” how the economy evolves, and decide on the monetary policy on a meeting-to-meeting basis, Chair Jerome Powell said on Wednesday.
Powell’s statement, at a press briefing, came shortly after the Fed slashed the benchmark lending rates for a third consecutive time, lowering it to 3.5%-3.75% target range.
Powell, whose term is set to end in May 2026, dropped at maintaining status quo at the next Federal Open Market Committee (FOMC) meeting scheduled on Jan. 27-28.
The Fed is now “within a range of plausible estimates of neutral, and leave us well-positioned to determine the extent and timing of additional adjustments” to rates, Powell said, indicating that FOMC may hit pause on further cuts in the next meeting during January 27-28.
(This is a developing story. More updates to follow)
