"Powell Stands Firm on Fed's Stance Against Rushing Rate Cuts Despite Inflation Concerns"

Federal Reserve Chair Jerome Powell denies that the Fed is more tolerant of higher inflation, emphasizing the commitment to bringing inflation down to 2% over time. Some economists disagree, expressing concern over the Fed's willingness to cut rates despite projecting higher inflation and growth. The Fed's perception of inflation reflects a willingness to be patient and embrace non-inflationary growth, driven by supply-side improvements, productivity gains, and a rebound in labor supply. Meanwhile, Home Depot makes its largest acquisition ever, targeting professional contractors and builders as the home fixer-upper market stalls.