Fed members back cutting rates this year, but need confidence inflation slowing
Investing.com -- Federal Reserve chairman Jerome Powell said Wednesday most voting Fed participants support lowering interest rates at some point this year, but not until the central bank has greater confidence from incoming data that inflation is on a sustainable move lower.
But a pivot to cuts isn't expected to arrive until"we have greater confidence that inflation is moving sustainably down toward 2 percent," the fed chief added.
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