The U.S. economy remains strong despite increased uncertainty, Federal Reserve (Fed) Chairman Jerome Powell said at an event at the University of Chicago Booth School of Business.
He reiterated that the Fed does not need to rush to cut the benchmark interest rate further.
“Despite rising uncertainty, the U.S. economy is still in good shape,” Powell said. – We don’t need to rush; we are quite prepared to wait for greater clarity.”
Federal Reserve Bank of Atlanta President Raphael Bostic said Friday that the Fed probably won’t have enough clarity on U.S. economic conditions until “late spring or summer” to continue adjusting monetary policy.
Bostic said it is difficult to predict at this point where the U.S. economy might move given the change in U.S. policy and will wait to see the effects of trade duties, weakening consumer confidence and lower immigration flows begin to be reflected in economic data.
Powell said in his speech that it is “the implications of these changes that will matter for the U.S. economy and monetary policy.”
He added that surveys of homeowners and businesses indicate growing concern about the outlook for the economy.
“We will just have to wait to see how all of this affects future spending and investment,” he said.
Powell also said progress in slowing inflation is likely to continue but will be uneven.
The Fed kept the benchmark rate in a range of 4.25-4.5 percent per annum at the end of its January meeting. The rate was cut by 1 percentage point last year.
The next meeting of the Fed will be held on March 18-19.
Geographical structure of Ukraine’s foreign trade (surplus) in January-October 2024, million USD
Source: Open4Business.com.ua
Turkmenistan is ready to export natural gas to European countries, said Gurbanguly Berdimuhamedov, former head of the country and current chairman of the People’s Council. He emphasized the strategic importance of cooperation with Europe in the field of energy resources, noting that the European market is one of the largest in the world.
Berdimuhamedov drew attention to the fact that Turkmenistan ranks fourth in the world ranking in terms of natural gas reserves. “I will give another concrete example: the Galkynyş field ranks first in the world in terms of gas reserves. Its reserves amount to 27.4 trillion cubic meters. These figures show that our country’s export potential allows us to meet the energy needs not only of our own, but also of our partners in the region and beyond,” the politician said.
The Cabinet of Ministers of Ukraine has temporarily appointed Oleg Tsilvik as Chairman of the State Export Control Service of Ukraine.
At the same time, Ihor Klymenko was dismissed from the position of Deputy Chairman of the State Agency of Ukraine for Development of Land Reclamation, Fishery and Food Programs, and Serhiy Dekhtyarenko was dismissed from the position of Deputy Chairman of the State Service of Geology and Subsoil of Ukraine for Digital Development, Digital Transformation and Digitalization.
The Cabinet of Ministers has appointed Arsen Makarchuk as head of the State Statistics Service of Ukraine.
The Cabinet’s representative in the Verkhovna Rada, Taras Melnychuk, said in his Telegram channel that the relevant decision was made at a government meeting on Friday.
Also, the former head of the State Statistics Service of Ukraine was appointed Deputy Chairman of the State Service of Ukraine for Children on issues of digital development, digital transformation and digitalization.
Appointment, head of the State Statistics Service of Ukraine
Ukrainian President Volodymyr Zelensky said he will visit Saudi Arabia on Monday, but Andriy Yermak, Andriy Sibiga, Rustem Umerov and Pavlo Palisa will meet with U.S. negotiators.
“I will start next week with a visit to Saudi Arabia, and after my meeting on Monday with the Crown Prince, Ukrainian diplomatic and military representatives will stay for a meeting on Tuesday with the American team. The Ukrainian team will consist of Andriy Yermak, Andriy Sibiga, Rustem Umerov and Pavel Palisa,” the president wrote on the X network on Saturday.
Zelensky also said that the diplomatic teams of Ukraine and Britain met in Kiev on Saturday.
“Very productive. Discussed our joint steps that can bring peace closer and accelerate diplomatic work. Grateful for the support. Ukraine is determined to do everything as soon as possible so that it is possible to end this war with a decent and lasting peace,” the president said.
Regarding the negotiations between the Ukrainian and American teams, Zelensky emphasized: “From our side there will be a clear mood for constructive, and we hope that it will be possible to discuss and agree on the necessary solutions and steps. Ukraine has been striving for peace since the first second of this war. There are absolutely realistic proposals on the table. The main thing is to move quickly and efficiently.”
Earlier, US President Donald Trump’s Middle East envoy Steve Whitkoff said that talks between Ukraine and the US would be held in Riyadh or Jeddah in Saudi Arabia on March 11. The kingdom’s Foreign Ministry clarified later that a meeting between representatives of the US and Ukraine on the possibility of ending the war between Ukraine and Russian Federation in will be held next week in Jeddah
