"Federal Reserve Chair Signals Patience on Rate Cuts Amid Cooling Inflation"
TL;DR Summary
Federal Reserve Chair Jay Powell discusses the state of the economy and the path ahead, emphasizing the need for more good inflation readings before considering a reduction in interest rates. Powell stresses the importance of getting the decision right, as reducing rates too soon could lead to disruptive inflation, while waiting too long could cause unnecessary damage to the economy and labor market. He also highlights the Fed's commitment to serving all Americans on a nonpolitical basis and the need for humility in the face of an unpredictable economy, while acknowledging the possibility of a recession in the future.
- Fed chair: Focusing solely on inflation is "no longer appropriate" Marketplace
- Fed Chair Jerome Powell signals rate cuts aren’t imminent CNN
- Fed Chair Says Central Bank Need Not 'Hurry' to Cut Rates The New York Times
- Fed Says US Economy Is Strong Enough to Wait on Cuts Bloomberg
- Federal Reserve chair Jay Powell expects US inflation to keep cooling in coming months Financial Times
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