Powell Confident in Slowing Inflation, Hints at Future Rate Cuts
TL;DR Summary
Federal Reserve Chair Jerome Powell expressed increased confidence that inflation is moving towards the Fed's 2% target, suggesting that rate cuts could occur before inflation fully reaches that point. While Powell did not specify when rate cuts would begin, economists and futures markets anticipate reductions starting in September. Recent data shows a decline in consumer prices and a cooling job market, reinforcing the Fed's belief that inflation is being controlled. Powell also commented on the attempted assassination of former President Donald Trump, condemning the violence.
- Powell says Federal Reserve is more confident inflation is slowing to its target The Associated Press
- Powell Signals Rate Cut Coming Into View but Declines to Say When The Wall Street Journal
- Fed’s Powell Says Recent Data Raise Confidence Inflation on Path to 2% Bloomberg
- Powell indicates Fed won't wait until inflation is down to 2% before cutting rates NBC News
- Fed’s Powell Welcomes Cooler Inflation but Steers Clear of Rate Cut Timing The New York Times
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