"Powell Signals Delay in Rate Cuts Amid Inflation Concerns"
TL;DR Summary
Federal Reserve Chair Jerome Powell's comments on the likelihood of delayed rate cuts due to a lack of progress on inflation caused US stocks to waver, with the Dow rising 0.2% and the S&P 500 and Nasdaq falling. The 2-year Treasury yield briefly topped 5% before retreating. Powell emphasized the need for further time to assess the economy and inflation, indicating a pivot from his previous stance. Analysts are divided on when the first rate cut might occur, with some estimating July and others predicting as late as December.
- Stocks wobble after Powell warns that rate cuts will likely come later than expected CNN
- Powell Signals Rate Cut Delay As Inflation Plateaus Above Target Business Insider
- Biden says inflation is top domestic priority, but Fed admits lack of progress Fox News
- Fed Chair Jerome Powell Dials Back Expectations on Interest-Rate Cuts - WSJ The Wall Street Journal
- Morning Bid: Blunt Powell signals rate cut plans on ice Reuters
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