Fed Chair Powell maintains fight against inflation, downplays imminent interest rate cuts.
Federal Reserve Chair Jerome Powell says the fight against inflation is "not done" and the US central bank would need "greater confidence" that price pressures are easing before cutting interest rates. Despite a recent improvement in the labor market and signs of stubbornly high inflation, Powell believes that the most recent forecasts suggesting a rate cut this year are uncertain. He emphasized that the central bank will continue to assess incoming data before making decisions on policy, with the aim of stabilizing inflation at 2% over time.
April 03, 2024
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