From new york, heres the bbc s north America Business correspondent, michelle fleury. Stubborn inflation pushes back the timing of the first rate cut. The Us Federal Reserve voted to keep its Benchmark Lending Rate at a 23 year high on wednesday. Officials have said they want more certainty that inflation is under control before they Lower Borrowing costs. They do not have that yet. Here is chair, jerome powell, during his press conference. The economy has made considerable progress towards our dual mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. W
Here is chair, jerome powell, during his press conference. The economy has made considerable progress toward our dual mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. With progress on inflation taking longer than expected, hopes for lower rates have dimmed. One scenario that could change that calculation . Chair powell said if the Labour Market unexpectedly weakened, that could spur rate cuts. And sweetening the mood on wall street, the Dowjones Industrial Average closed higher, after the fed chair implied that the Central Banks next move was unlike
Mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. With progress on inflation taking longer than expected, hopes for lower rates have dimmed. One scenario that could change that calculation . Chair powell said if the Labour Market unexpectedly weakened, that could spur rate cuts. And sweetening the mood on wall street, the Dowjones Industrial Average closed higher, after the fed chair implied that the Central Banks next move was unlikely to be a rate hike. As youve heard from the Us Federal Reserve, Interest Rates in america will remain high for some
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Increasing the numbers that we serve, the facilities will be there. And today i would ask for a continuance of this particular item. It was my fault that it was confusing where things were at. The initiative was presented by signatures and with this one. First i want to recognize ivy lee from supervisor kims office. I just wanted to give you an opportunity also to present on behalf of supervisor kim who couldnt be with us today but is also the lead sponsor on this initiative. Thank you so much, chair cohen. And thank you, supervisors, for your time today on this issue. You know, i just want to speak from a very personal point of view. About this measure. I have three kids of my own. And victory and i were both nonprofit attorneys. We made 90,000 between the two of us and we had three kids all in child care at the same time. It was a real struggle. And it was a part of it was part of the reason that i gave up work for about three years in other words to take care of the kids because my