Powell says the Fed is not far from rate cuts
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 7 March 2024
⏱️ 1 minutes
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Summary
Stocks rise; Powell says cutting rates will help the economy avoid a recession; imports rise in January; initial unemployment claims unchanged.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Thursday. The |
| 0:08.0 | Dowel rose a third of a percent, the S&P gained 1 percent, and the NASDAQ added 1.5%. |
| 0:14.8 | Federal Reserve Chair Jay Powell told senators that the Central Bank is not far from feeling |
| 0:19.4 | confident enough to cut interest rates. |
| 0:21.9 | Powell says the Fed is still waiting to make sure inflation is moving down |
| 0:25.4 | sustainably to the 2% target. |
| 0:27.7 | He says cutting rates will help the economy avoid a recession. |
| 0:31.6 | Imports of goods and services rose more than 1% in January, according to the Bureau of Economic |
| 0:36.6 | Analysis. |
| 0:38.1 | Imports of computers, semiconductors, and other capital goods rose the most. And the number of people signing up for unemployment benefits was unchanged last |
| 0:46.6 | week from the week before. |
| 0:48.2 | That's according to the Labor Department, the number of continuing claims went up. |
| 0:52.5 | I'm Justin Ho with the marketplace minute. You're going to. |
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