• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Jerome Powell on the State of the US Economy and Upcoming Challenges

user avatar

by Giorgi Kostiuk

a year ago

  1. Inflation and Economic Activity
  2. Future Projections
  3. Labor Market and Public Debt


    4. Amid concerns about the weak US economy, Federal Reserve Chairman Jerome Powell assures the public that the situation is under control.

    Inflation and Economic Activity

    Inflation, edging closer to the Fed’s target of 2%, shows significant improvement from recent surges, although it still exceeds the ideal level. Meanwhile, economic activity remains steady.

    Future Projections

    Powell projects a 2% economic growth rate for 2024, which he expects to remain stable through 2027.

    Our monetary policy actions are guided by our dual mandate to promote maximum employment and stable prices for the American people. Our primary focus is on bringing down inflation, and appropriately so.Jerome Powell

    Labor Market and Public Debt

    The labor market remains a major concern despite historically low unemployment rates. Another significant issue is public debt, which reached around 93% of GDP in 2023 and could approach 100% by the end of the decade. If investors start losing confidence, borrowing costs could rise, making it harder for the economy to recover in the long term.

    While the labor market and public debt remain major challenges for the US economy, Fed Chairman Jerome Powell remains optimistic and confident that inflation and economic activity are under control.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

MicroStrategy Faces Major Stock Decline Amid Bitcoin Weakness

chest

MicroStrategy, the largest corporate holder of Bitcoin, has seen its stock plummet due to falling Bitcoin prices.

user avatarNguyen Van Long

XRP Sentiment Surges Amid Market Decline

chest

Recent data shows increasing optimism about XRP among social media users, contrasting with declining sentiment for Bitcoin and Ethereum during the market downturn.

user avatarSatoshi Nakamura

Vitalik Buterin Executes Strategic Ether Sales to Minimize Market Impact

chest

Vitalik Buterin sold approximately 2,961.5 ETH valued at around $66 million over a three-day period using multiple smaller trades via CoW Protocol to minimize market impact.

user avatarJesper Sørensen

Cardano Price Faces Downward Pressure Amid Weak Market Sentiment

chest

The Cardano price outlook is deteriorating due to weakening market structure and fading ETF optimism.

user avatarLucas Weissmann

Hyperliquids HYPE Surges Amid Ripple Integration

chest

Hyperliquids HYPE experienced a remarkable 62% increase in price following its integration with Ripple's ecosystem, contrasting with the broader crypto market's decline.

user avatarRajesh Kumar

Crypto Patel Highlights Dogecoin's Key Support Level for Potential Price Surge

chest

Crypto analyst Crypto Patel highlights that Dogecoin has returned to a crucial macro support level, suggesting potential for significant price increases.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.