Federal Reserve Chair Jerome Powell stresses the need for more evidence of declining inflation before considering interest rate cuts.
Federal Reserve Chair Jerome Powell emphasized the need for more evidence of declining inflation before considering interest rate cuts. Powell acknowledged recent decreases in inflation but stated that the Fed's work is not yet complete. He mentioned that policymakers will carefully evaluate the economic situation before making any decisions. Powell also expressed that it is too early to determine if the recent inflation readings are significant or temporary.
The Fed will only consider lowering the policy rate when they are confident that inflation is steadily moving towards 2 percent. These remarks come as concerns arise on Wall Street regarding the stagnation of inflation progress
Federal Reserve Jerome Powell Inflation Interest Rates Economic Evaluation Wall Street
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