Powell: The Tension Between Slowing Economic Growth and High Inflation
ChainCatcher news, according to Golden Ten Data, Federal Reserve Chairman Powell discussed the factors behind the Fed's 25 basis point rate cut at a press conference. He pointed out that economic growth slowed in the first half of this year, while inflation has risen and remains at a high level. Powell also mentioned that downside risks to employment have increased and described the labor market as "lackluster and weak."
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Saudi Arabia's oil production in October surged by 26%, reaching the highest level since the onset of the conflict, while Brent crude has dropped over 20% this month
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