finance economics

JPMorgan Chase's profits in the third quarter declined due to $3.11 billion in provisions for bad debts offsetting the income from its investment banking sector

Three voting members of the Federal Reserve have indicated that future decisions on interest rate cuts will be based on data while maintaining a balanced approach

2024/10/10

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Several officials from the U.S. Federal Reserve (Fed) spoke on the 8th, indicating that the risks of inflation and employment in America are nearing a balance. Fed Vice Chair Jefferson noted that while inflation risks have decreased, employment risks are rising, thus reaching an overall balance.

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He emphasized that decisions regarding interest rate adjustments will be based on currently released economic data.

Jefferson mentioned that the overheated labor market has cooled, but the economy continues to grow at a "robust pace," and that the inflation rate is approaching the Fed's 2% target, which is expected to continue downwards.

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