Fed Chair Powell Signals Potential Interest Rate Cuts in 2024, Cautions on Quick Moves

Jerome Powell indicates three rate reductions could be on the table for 2024, but a March cut appears unlikely amid strong economic indicators.

Fed Chair Jerome Powell hints at up to three interest rate cuts in 2024, with the first cut not expected in March.
Australia's central bank maintains its cash rate at a 12-year high of 4.35%, signaling a cautious approach to future rate hikes.
Banks anticipate margin recovery with potential Fed rate cuts, but immediate relief seems distant as Powell expresses caution.
Strong economic data and inflation concerns lead to a slump in US Treasuries, indicating skepticism about a swift Federal Reserve pivot to monetary easing.
Asia-Pacific markets fall, tracking Wall Street's decline, as investors await decisions from central banks amid mixed economic signals.