CandleFocus The Fed Is ‘Attempting Something Unprecedented’ as It Navigates Massive Inflation Drop
2024-10-19
Author: Content Editor
The US Federal Reserve is facing an unprecedented drop in inflation, with a decline of 5.8% in the last two years, the largest drop since the 1980s. This drop is even larger than the decline seen during the 2008 Financial Crisis and has never been seen outside of recessions. The interest rate cuts come after an aggressive rate hike cycle, which saw rates rise from near zero to 5.5% in 16 months. Despite concerns about an incoming recession, JPMorgan Chase CEO Jamie Dimon is more worried about ongoing geopolitical threats and the global economic situation. He has repeatedly warned about geopolitical instability and called Iran, North Korea, and Russia the "evil axis".
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