In the 60 Minutes interview released today, Jerome Powell stated that the first interest rate cut of 2024 will likely be in the middle of the year.
Powell also commented on the importance of taking control of our national debt, and had two things to share when asked on what is the single most important factor of American prosperity.
We need to remember that we have a dynamic, innovative, flexible, adaptable economy. More so than other countries. This is the big reason why our economy has come through so well.
Since World War 2, the United States has been the indispensable nation. Supporting and defending democracy, supporting security arrangements, economic arrangements. We’ve been the leading voice on that. It’s clear that the world wants that. I would want the people of the United States to know that this has benefited our country enormously. It benefits our economy so much to have this role. I hope that continues.