Home World Market Powell speech: Central banks will have less ability to counter downturn by...

Powell speech: Central banks will have less ability to counter downturn by cutting rates

- Advertisement -

While speaking at a panel organized by the Swiss Institute of International Studies (SIAF), University of Zurich, Jerome Powell, Chairman of the Federal Reserve System, argued that central banks will have less ability to support economic in a downturn. “Lower rates and lower inflation is the biggest challenge for central banks in the new landscape,” Powell noted. “Current implication is that central banks will have less ability to counter a downturn by cutting rates in future.” The market reaction is fairly muted to Powell’s remarks and the US Dollar Index was virtually flat on the day at 98.37.

- Advertisement -
FOLLOW US ON TWITTER SUBSCRIBE TO OUR YOUTUBE CHANNEL

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Minister assures federal universities of stable power supply

FROM: Pulse The Minister of Power, Alhaji Sale Mamman, has assured that the present administration was determined to ensure that all the federal universities enjoy...

Saudi stock exchange slumps after oil facility attacks

FROM: PUNCH Saudi shares slumped at the start of trading Sunday, the first session after drone attacks on two major oil facilities knocked out more...

Reactions to attack on Saudi oil facilities

Yemen’s Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia’s oil industry in a strike that could impact about...

Bishop Kukah disowns Facebook account, vows to tract perpetrators

FROM: Sun News The Catholic Bishop of Sokoto, Most Reverend, Matthew Hassan Kukah, has disowned Facebook account opened and operating on his name by some...

T. Boone Pickens Saw How Fast Energy Markets Could Change

FROM: Bnnbloomberg T. Boone Pickens, the legendary American oil entrepreneur who died this week at 91, was known for his aggressive corporate plays in the 1980s...