WASHINGTON (AP) — Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are...
WASHINGTON — Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are coming in a
Powell sounded confident that the Fed would achieve a so-called soft landing — containing inflation without causing a recession. "There is good reason to think that the economy will get back to 2% inflation while maintaining a strong labor market,'' he said. They weren't alone in their optimism. “The good ship Transitory was a crowded one,'' Powell said, ”with most mainstream analysts and advanced-economy central bankers on board.''
The U.S. imposed sweeping sanctions Friday on hundreds of firms in Russia and across Europe, Asia and the Middle East, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions. Among those sanctioned by the Treasury Department were 60 Russian-based technology and defense companies, including three Russian financial tech companies. Friday's action is the latest in a series of thousands of U.S.
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