1/19/2024 0 Comments Jerome powell next meeting![]() ![]() ![]() Many of the remaining centers are operating at less than full capacity because of staffing shortages. Schreiber said there were 219 child care centers in the area before the pandemic. At the same time, Schreiber said, many business people are worried about the next 12 to 18 months and the prospect that interest rates will stay high and inflation won’t be fully conquered.Ī lack of child care is another top problem for many businesses in the area, Schreiber said, because it keeps many parents out of the workforce. Kevin Schreiber, CEO of the York County Economic Alliance, a business development group, told reporters that the local economy is growing at a healthy pace. In the meantime, the unemployment rate has defied predictions by remaining low while the economy has continued to expand.īefore the walking tour, Powell and Harker conducted a roundtable discussion with several business owners and executives, nonprofit leaders and educators. Inflation has dwindled from a four-decade high of 9.1% in June 2022 to 3.7% in August. ![]() The policymakers predicted that inflation would fall to about 2.6% by the end of 2024, with only a small rise in the unemployment rate.īut given its confidence in the economy’s resilience, the Fed also signaled that it expects to keep its benchmark rate higher for longer, potentially raising it once more this year and keeping it above 5% well into 2024. At their most recent meeting two weeks ago, Fed officials signaled confidence about a so-called “soft landing,” in which inflation would fall back to their 2% target without a deep recession. Powell’s visit occurred as the Fed is monitoring the economy for signs that its streak of rate increases are having their desired effect and that inflation is continuing to cool. Heasley said she is paying a much higher rate now on her credit cards, which she sometimes uses to fund her business. ![]()
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