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No US Rate Cuts Seen For This Year - Fed Chair Powell

Fahad Shabbir (@FahadShabbir) Published March 23, 2023 | 12:10 AM

No US Rate Cuts Seen for This Year - Fed Chair Powell

WASHINGTON (UrduPoint News / Sputnik - 23rd March, 2023) The United States is unlikely to see a reduction in interest rates this year as the Federal Reserve's focus remains on fighting inflation, which is still too high, Chairman Jerome Powell said Wednesday.

"Participants don't see rate cuts this year," Powell told a news conference, referring to Fed policymakers. "They just don't. As always, the path of the economy is uncertain. Policy is going to reflect what happens rather than what we write down in the SEP (Summary of Economic Projections). That's not my baseline expectation (a rate cut)."

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