Jay Powell under pressure
The Federal Reserve is expected to lower interest rates sometime in 2024 \u2014\xa0but that didn’t happen this week and Fed Chair Jerome Powell said not to expect it in March either. We’ll discuss the move (or lack thereof), as well as pressure on the central bank to confront housing costs. Plus, we’re getting more productive, churn in labor market isn’t as frenzied, and Medicare will start negotiating drug prices.