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A More Cautious Fed Signals 'High For EVEN Longer' Interest Rates | Axel Merk
Yesterday, May 1 2024, the Federal Reserve issued its latest policy statement, followed by a press conference by Fed Chair Jerome Powell.
The Fed held its policy interest rate steady at 5.25%, as expected.
Somewhat surprising to Wall Street was the Fed's announcement that it will reduce the scope of its Quantitative Tightening program starting in June. US Treasury roll-off will be reduced to $25 billion per month, down from the current $60 billion per month.
Above and beyond that, Jerome Powell admitted that inflation is proving more stubborn to tame than the Fed hoped at the start of the…
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