Stocks Slip As Powell Says Future Interest Rate Cuts Hinge On Data: 'Economy Is In Solid Shape, We Intend To Use Our Tools To Keep It There'

Benzinga · 03:10

Stocks slid Monday after Federal Reserve ChairmanJerome Powellsaid that future interest rate cuts would depend on economic data during his appearance at the National Association of Business Economics. While Powell noted inflation is moving closer to the Fed's 2% target and highlighted positive economic progress, his comments on data-driven rate decisions added uncertainty to the market just weeks after a recent rate cut.

What Happened: Powell appeared at the National Association of Business Economics (NABE) in Nashville, Tennessee, where he gave prepared remarks and took part in a fireside conversation sharing details on the recent interest rate...

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Stocks Slip As Powell Says Future Interest Rate Cuts Hinge On Data: 'Economy Is In Solid Shape, We Intend To Use Our Tools To Keep It There'

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