jerome powell

US Fed chair Jerome Powell (File photo by AP) The US Federal Reserve’s Federal Open Market Committee (FOMC), led by Fed Chair Jerome Powell on Wednesday cut the key rate by 25 basis points. The rate now stands between 3.5 percent and 3.75 percent, the lowest level in nearly three years. "In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the...

NEW DELHI: The Federal Reserve on Wednesday announced that it is keeping its primary interest rate of 5.25%-5.5% unchanged as it endeavors to steer the US economy toward a "gentle landing", where inflation cools down without inducing a severe recession.Chair Jerome Powell and fellow Federal Reserve officials have made it evident that they are leaning towards adopting a more gradual and cautious approach...