• 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

Bitcoin Community Divided Over Quantum Risk Response

chest

The Bitcoin community is currently divided on how to respond to the potential risks posed by quantum computing.

user avatarSatoshi Nakamura

Swift's Blockchain Initiative Aims for Tokenized Asset Integration

chest

Swift's blockchain initiative aims to integrate tokenized assets with traditional systems while maintaining existing cryptocurrencies.

user avatarJesper Sørensen

Stellar Tests Structural Support as Downtrend Pressure Begins to Ease

chest

Stellar's price action shows a potential shift from a downtrend to a more stable market structure after breaking and retesting a descending resistance trendline.

user avatarRajesh Kumar

Swift and Global Banks Join Forces to Innovate Blockchain Technology

chest

Swift is collaborating with over 30 banks from 16 countries to develop a blockchain-based shared ledger aimed at enhancing crossborder payment efficiency and supporting the circulation of tokenized assets.

user avatarLucas Weissmann

Fold Partners with BitGo to Launch Nationwide Bitcoin Services

chest

Fold has launched its Bitcoin financial services across all 50 US states through a partnership with BitGo.

user avatarFilippo Romano

Japan's Monetary Policy Shift Influences Cryptocurrency Market

chest

Japan's recent monetary policy shift, including the purchase of $102 billion in foreign securities, is influencing the cryptocurrency market, with potential benefits if inflation stabilizes.

user avatarEmily Carter

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.