'We don't need to be in a hurry to cut': Jerome Powell says Fed will wait for inflation to 'come in line'
==========
Federal Reserve Chair Jerome Powell stated that the US economy has remained resilient despite high interest rates and that the Fed is not in a rush to cut interest rates. Powell mentioned that the fresh inflation data released is in line with expectations, but it won't be appropriate to lower rates until officials are confident inflation is on track toward their 2% goal. The core personal consumption expenditures price index rose 0.3% in February after climbing 0.5% in the previous month. Powell expects inflation to continue falling on a 'sometimes bumpy path' and stated that it would likely be appropriate to ease policy 'at some point this year.' However, he and other policymakers are in no rush given the underlying strength of the economy and recent signs of persistent price pressures.
#FederalReserve #JeromePowell #UsEconomy #Inflation #InterestRates
https://www.businesstoday.in/latest/economy/story/we-dont-need-to-be-in-a-hurry-to-cut-jerome-powell-says-fed-will-wait-for-inflation-to-come-in-line-423502-2024-03-29
Business Today /
npub10k…ffpj8
2024-03-29 17:56:05
Author Public Key
npub10krv5xyz57fwv0upm7fgx90w8m2xulqkzzxml2d9d433rwrlmwpsyffpj8Published at
2024-03-29 17:56:05Event JSON
{
"id": "728584a1dfb3b0fa4e6678b335a42c464effd6885de0103d134513d834071323",
"pubkey": "7d86ca1882a792e63f81df928315ee3ed46e7c16108dbfa9a56d6311b87fdb83",
"created_at": 1711734965,
"kind": 1,
"tags": [],
"content": "'We don't need to be in a hurry to cut': Jerome Powell says Fed will wait for inflation to 'come in line'\n==========\n\nFederal Reserve Chair Jerome Powell stated that the US economy has remained resilient despite high interest rates and that the Fed is not in a rush to cut interest rates. Powell mentioned that the fresh inflation data released is in line with expectations, but it won't be appropriate to lower rates until officials are confident inflation is on track toward their 2% goal. The core personal consumption expenditures price index rose 0.3% in February after climbing 0.5% in the previous month. Powell expects inflation to continue falling on a 'sometimes bumpy path' and stated that it would likely be appropriate to ease policy 'at some point this year.' However, he and other policymakers are in no rush given the underlying strength of the economy and recent signs of persistent price pressures.\n\n#FederalReserve #JeromePowell #UsEconomy #Inflation #InterestRates\n\nhttps://www.businesstoday.in/latest/economy/story/we-dont-need-to-be-in-a-hurry-to-cut-jerome-powell-says-fed-will-wait-for-inflation-to-come-in-line-423502-2024-03-29",
"sig": "8c3f6693957854757cf382e05d2fe48165387c3e13d3ed2b4d94173697965788854b52dc3daf7de2ad7a4917e55738041161a38295ebd817d5f127056942fa8c"
}