No rate cuts expected from US Fed facing 'unfavorable' conditions

Quick Summary:

WASHINGTON: The US Federal Reserve faces a tough choice on Wednesday (May 7) as it contends with President Donald Trump's tariff rollout: Prioritise tackling inflation by holding interest rates high, do nothing, or stimulate growth and employment by cutting them?

At the same time, the unemployment rate has hovered close to historic lows, and the inflation rate has trended towards - but remained just above - the Fed's long-term target of 2 per cent.

Data published in recent weeks point to an economic contraction in the first quarter of the year, as consumers and businesses stocked up on imports ahead of the introduction of the new measures.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaUnited States

Topics: Reserve Economic Bank Rate Data Cent Chair Trump Powell Rates Federal

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 10:38:19 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 755 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 28456222

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 67 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 26 minutes ago

Coverage Areas: Singapore

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #27

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