The economy needs to take one of these 2 paths before the Fed cuts interest rates, Powell says [Yahoo! Finance]
ZipRecruiter, Inc. Class A (ZIP)
Company Research
Source: Yahoo! Finance
He said it'll take better inflation data or "unexpected" labor market weakness before that happens. Federal Reserve Chair Jerome Powell will not say when the nation's central bank will cut interest rates, but he did say what it will take for that to happen. On Wednesday, the Federal Open Market Committee announced that interest rates will remain unchanged , continuing the pause that began in September following 11 consecutive rate hikes. However, the announcement confirmed that rate cuts won't be happening any time soon, with the FOMC's statement saying that "there has been a lack of further progress toward the Committee's 2 percent inflation objective." The Consumer Price Index, which measures inflation, rose 3.5% year-over-year in March, a slight increase from the 3.2% year-over-year reading in February. Given that inflation is not coming down at the rate the Fed is hoping for, Powell said during his Wednesday press conference that the central bank needs to wait for more econ
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ZIP
Earnings
- 5/9/24 - In-Line
ZIP
Sec Filings
- 5/9/24 - Form 4/A
- 5/9/24 - Form 10-Q
- 5/9/24 - Form 8-K
- ZIP's page on the SEC website