![]() "And we, you know, we would just have to deal with that. If there is a government shutdown and it lasts through the next meeting, then it’s possible we wouldn’t, we wouldn’t be getting some of the data that we would ordinarily get," Powell warned. Their job could get tougher in the event of a government shutdown. Members remain open to another interest rate increase before the end of the year in their fight to bring inflation down to their target rate of 2%. These announcements will be followed by a press conference with Fed Chair Jerome Powell. The Federal Open Market Committee will next meet at the end of October. Federal Reserve Chair Jerome Powell will speak on 'the economic outlook' at next week's Jackson Hole, Wyoming symposium, the central bank said on Thursday. On Friday, the national average price of a gallon of regular gasoline was $3.83, according to AAA, and it has averaged above $3.50 since February. It really comes down to how persistent, how sustained, these energy prices are,” Powell said during a news conference last week. ![]() It certainly can affect consumer sentiment, I mean gas prices are one of the big things that affect consumer sentiment. You know, energy prices are very important for the consumer. Powell, the Fed chair, said the central bank would likely raise interest rates in March as inflation runs high and the labor. Many economists, even Federal Reserve Chair Jerome Powell, blame high energy prices. Fed chairman Jerome Powells news conference is displayed on the floor at the New York Stock. Fed Plans to Raise Interest Rates in March, Powell Says Jerome H. It goes hand-in-hand with a new reading on consumer confidence by Morning Consult and Axios, showing declines among all income levels in September. A slowdown in consumer spending was also reflected in this week's revised GDP estimate for the second quarter. ![]() Personal income rose at a monthly rate of 0.4%, and disposable income rose 0.2%.Ĭonsumer spending rose by 0.4% in August, less than half of the 0.9% increase seen in July.
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