Powell Says a March Rate Cut is Unlikely Fed Chairman Jerome Powell indicated on Wednesday that a rate cut by the Federal Reserve is unlikely by their March meeting. Powell expressed the committee’s need for more confidence in the inflation trajectory before considering a rate reduction. This statement followed the Fed’s January meeting, where they kept the benchmark interest rate unchanged. However, Powell did mention the possibility of rate cuts later in the year. Following his comments, stock markets reacted negatively, with the Dow Jones Industrial Average dropping by 300 points, as traders’ hopes for an early rate cut, potentially pre-empting a recession, were diminished. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Biden Administration Erases $1.2 Billion in Student Debt for 150,000 Americans READ MORE Currency Made of Actual Gold Hoping to Reach Nevadan’s Wallets READ MORE Oil prices little changed as U.S. moves to replenish reserve, Gaza cease-fire still uncertain READ MORE Recession seems almost certain with 19 states in trouble already, expert warns READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment