November 07, 2024 19:43 GMT
MNI BRIEF: Powell-No Near-Term Fed Policy Effect From Election
Fed Chair Powell speaks to reporters at press conference.
The U.S. presidential election this week will not affect Federal Reserve policy in the near-term because it’s too soon to know what economic proposals will be implemented and what effect they will have, Fed Chair Jerome Powell said Thursday.
“In the near term the election will have no effects on our policy decisions. We don’t know what the effects on the economy will be,” Powell said. (See MNI INTERVIEW: Fed Will Pause, Take Stock In 2025-Lockhart)
He said Fed officials are monitoring the jump in Treasury yields that followed their September rate cut of 50 basis points.
“We’re watching that, we’ll see where they settle," he said.
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