New Delhi: The US Federal Reserve will share the decision of its Open Market Committee meeting which started on December 17, 2024. This will be the last FOMC meeting under US President Joe Biden as well as before Donald Trump takes office as the 47th President of the US on January 20, 2025.
The US Federal Reserve will share Chairman Jerome Powell’s speech on its official YouTube channel, social media platform X, and the US central bank’s official website.
US Federal Reserve chairman speech date and time
US Federal Reserve chairman Jerome Powell, who recently received a term extension, will deliver the decision of the FOMC at 2:30 pm EDT in the US on Wednesday. This translates into 1 am Indian Standard Time on Thursday.
Tomorrow at 2:30 p.m. ET: Chair Powell hosts live #FOMC press conference: pic.twitter.com/wKl3hbclU5
— Federal Reserve (@federalreserve) December 17, 2024
Will US Fed slash interest rate
The US Federal Reserve is expected to slash the policy rate by 25 basis points to 4.25-4.50 per cent. The key rate currently stands at 4.5-4.75 per cent. The US Federal Reserve has slashed the key rate by 75 basis points so far. To be sure, the Fed is expected to strike a hawkish note on the state of the economy since inflation remained above its 2 per cent target in November. The Fed may also deliver a lower rate cut considering it may decide to wait and watch how the policy landscape changes after Trump takes office.
While the US economy seems to be placed on a firm footing, the job growth story is not promising since key sectors such as manufacturing, business and professional services were not performing well, NBC News reported. This points to continued uncertainty in the labour market as well as the inflation trajectory, the NBC reported, citing a note by analysts at Goldman Sachs.
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