Powell Commends Inflation Progress, Signals Rate Cuts, Expresses Debt Concerns

Federal Reserve Chairman Jerome Powell expressed confidence in recent inflation data moving towards the 2% target, hinting at potential interest rate cuts. He emphasized the importance of not waiting too long to cut rates and dismissed concerns of a hard economic landing. Powell also voiced worries about the unsustainable U.S. government debt, urging elected officials to address the issue. His comments led to slight market reactions, including a rise in long-dated Treasury yields and a mixed performance in stocks and commodities.