HOUSTON (ICIS)–The Federal Reserve flagged on Wednesday the threat of rising unemployment, opening the prospect of the first rate cut since it started its campaign to get inflation back to its 2% target.
“The economic outlook is uncertain, and the committee is attentive to the risks to both sides of its dual mandate,” the Federal Reserve said.
The Federal Reserve is charged with keeping inflation under control and promoting maximum employment.
If the Fed is concerned about unemployment rising too quickly, it could loosen monetary policy by lowering the benchmark federal funds rate.
Published by: www.icis.com
Al Greenwood
31-Jul-2024
