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Federal Reserve Chair Jerome Powell speaks Tuesday to the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon.
This is Powell’s first speech since the Federal Open Market Committee lowered the central bank’s key borrowing rate a quarter percentage point to a range of 4%-4.25%, the first cut of the year.
In his post-meeting news conference, Powell characterized the reduction as “risk management” as officials become more concerned with weakness in the labor market than the threat from inflation. Meeting participants indicated a likelihood of two more cuts this year followed by additional reductions in the next two years.
Read more:Chicago Fed President Goolsbee says officials have to be careful not to get too aggressive with rate cutsSt. Louis Fed President Musalem sees ‘limited room’ for more interest rate cutsFed Governor Stephen Miran pushes case for central bank to slash key interest rateThe Fed’s rate cut masked large internal differences about where policy is going
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