“Outlook is bright”: US Federal Reserve cuts interest rates, chair says tariffs impact still unknown

The U.S. Federal Reserve cut interest rates on Wednesday and signaled it will slow the pace at which borrowing costs fall any further given a relatively stable unemployment rate and little recent improvement in inflation. The reduction by the central bank's Federal Open Market Committee in the benchmark policy rate to the 4.25 per cent to 4.50 per cent range. Federal Reserve Chair Jerome Powell also discussed the impact of possible tariffs but said it was too early to tell what impact they could have on consumer inflation. "There are just many, many factors that go into what, how much tariffs will even go into consumer inflation. How persistent will that be? And you know, so we just we just don't know really very much at all about the actual policies. So it's very premature to try to make any kind of conclusion," Powell said. For more info, please go to https://globalnews.ca/news/10923726/us-fed-interest-rate-dec-2024/ Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #jeromepowell #interestrates