"Powell: Fed Awaits Stronger Inflation Before Considering Rate Cuts"
TL;DR Summary
Federal Reserve Chair Jerome Powell stated that the Fed is waiting for more positive inflation data before considering a rate cut, despite expectations of three rate cuts this year. The economy has continued to grow and the job market remains strong, leading to hopes of a "soft landing" for inflation. Powell emphasized that the Fed is not under pressure to cut rates and will wait to assess inflation numbers before making any decisions.
Topics:business#economic-growth#federal-reserve#financeeconomy#inflation#interest-rates#jerome-powell
- Powell says Fed wants to see 'more good inflation readings' before it can cut rates The Associated Press
- US inflation ticked higher last month, reversing some recent progress CNN
- Fed Says US Economy Is Strong Enough to Wait on Cuts Bloomberg
- Fed Chair Says Central Bank Need Not 'Hurry' to Cut Rates The New York Times
- Federal Reserve chair Jay Powell expects US inflation to keep cooling in coming months Financial Times
Reading Insights
Total Reads
0
Unique Readers
12
Time Saved
1 min
vs 2 min read
Condensed
79%
344 → 73 words
Want the full story? Read the original article
Read on The Associated Press