When will the Fed finally start cutting interest rates?
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Through the buoyancy of 2023, the U.S. Federal Reserve hiked interest rates and kept them at the current elevated levels to fight inflation.
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Americans spent $1.1 trillion on interest payments in the last quarter. And for the first time since at least 2000, nearly half of those payments were not made towards mortgages.
With small businesses facing escalating loan payments and American consumers bearing the burden of higher interest payments, all eyes are now on Fed chair Jerome Powell to see when it will start cutting rates.
The Weekend Brief will look at the Fed’s monetary policy with the aim of getting inflation down to 2% and how the higher rates are impacting the U.S. economy.
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