Fed chair plans to drop interest rates as 'inflation has decline significantly'

Federal Reserve Chairman Jerome Powell addressed the current state of the economy, focusing on inflation and labor market conditions. He indicated that interest rates are likely to decrease soon, as inflation risks have lessened and employment risks have increased. Powell emphasized the need for policy adjustments based on incoming data. The announcement was well-received by the stock market, with the Dow Jones showing significant gains.

What key economic issue did Jerome Powell address in his speech?

• Government spending

• Trade deficits

• Inflation and interest rate cuts

• Unemployment rates

According to Powell, what has happened to the risks associated with inflation?

• They have diminished

• They have increased

• They are unpredictable

• They have remained the same

What will determine the timing and pace of interest rate cuts?

• International markets

• Public opinion

• Incoming data and the evolving outlook

• Political pressure

How does Powell feel about the current state of the job market?

• He believes it is strong enough to lower interest rates

• He is concerned about high unemployment

• He is unsure about its stability

• He thinks it needs more cooling

What was the stock market's reaction to Powell's announcement?

• The Dow Jones rose significantly

• The Dow Jones fell significantly

• The Dow Jones was unaffected

• The Dow Jones remained stable