"Powell: Fed Not Rushing to Cut Rates, Expects Cooling Inflation"

Federal Reserve Chair Jerome Powell stated that the latest inflation report is in line with the central bank's goals, emphasizing that inflation is still on a "bumpy path" to the 2% target. The new data showed a slight cooling in the Personal Consumption Expenditures index, with core prices rising 0.3% from January to February. Powell reiterated the need for more good inflation readings and emphasized the Fed's patience in assessing the inflation trend. Some Fed officials, including Chris Waller and Raphael Bostic, have expressed caution about the pace of rate cuts, with Waller stating that there is no rush to cut the policy rate.