Jerome Powell stressed that the Fed’s current goal is to support a largely healthy economy and job market, rather than rescue a struggling economy or prevent a recession.

The Federal Reserve on Sept. 18 cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates.

WASHINGTON — Federal Reserve Chair Jerome Powell signaled that interest rate cuts are coming in a much-anticipated speech Aug. 23 in Jackson Hole, Wyo.

WASHINGTON — Federal Reserve Chair Jerome Powell cautioned April 16 that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year.

WASHINGTON — Federal Reserve officials kept their benchmark interest rate unchanged but signaled March 20 that they still expect to cut their key interest rate three times in 2024.

The Federal Reserve kept its key interest rate the same Dec. 13 for a third straight time, and officials signaled they expect to make three quarter-point cuts to the benchmark rate next year.

WASHINGTON — The Federal Reserve kept its key short-term interest rate unchanged Nov. 1 but left the door open to further rate hikes if inflation pressures should accelerate.

WASHINGTON — The Federal Reserve left its key interest rate unchanged Sept. 20 for the second time in its past three meetings, but also signaled it expects to raise rates once more this year.

Higher interest rates are expected to slow inflation and the U.S. economy during the remainder of 2023 and into 2024, before the Federal Reserve reverses course and cuts interest rates.

The Federal Reserve said July 26 it no longer foresees a recession and raised its key interest rate by a quarter-point from roughly 5.1% to 5.3% — its highest level since 2001.