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

The likelihood of a rate cut in November has increased, with three senior officials from the Federal Reserve stating that the current economic soft landing situation in the U.S. is favorable

2024/10/10

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William C. Dudley, President of the Federal Reserve Bank of New York, recently stated that the U.S. economy is in a favorable position for achieving a soft landing. He hinted that after a 0.5 percentage point rate cut in September, future rate cuts will be more gradual.

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Dudley is regarded as an important figure within the Federal Reserve System. He noted that the job report for September was excellent, indicating that even after over a year of high interest rates, the U.S. economy remains robust, with inflation steadily declining.

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