By Divya Chowdhury and Lisa Pauline Mattackal (Reuters) - The U.S. Federal Reserve is unlikely to provide clear signals on whether it will pause ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWatch on - The U.S. Federal Reserve is unlikely to provide clear signals on whether it will pause interest rate hikes or consider cutting rates, barring severe economic weakness or disinflation, former central bankers said on Tuesday.
"If wants to do its job, it almost surely has to keep in the state of 'nobody quite knows whether it's paused or not'," said Raghuram Rajan, former governor of the Reserve Bank of India. Powell's Jackson Hole presentation was effective because it left the bank's policy options open, said Dennis Lockhart, former president of the Atlanta Fed.
The Fed's economic projections earlier this year showed one more expected rate increase by end-2023 and rate cuts beginning in 2024, but both Rajan and Lockhart saw cuts as unlikely barring sustained economic weakness or disinflation.
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