"Powell Stresses Need for Evidence Before Cutting Rates, Sees Room for Cautious Fed Strategy"
Federal Reserve Chairman Jerome Powell emphasized the need for more evidence that inflation is easing before considering interest rate cuts, stating that it is too soon to determine whether recent readings represent more than just a temporary increase. Powell highlighted the strength of the economy and the progress on inflation, indicating that the Fed has time to assess the current state of affairs before making any policy decisions. The uncertainty about rates has caused market fluctuations, with investors recalibrating their outlook for the timing and extent of potential cuts. Powell also emphasized the importance of Fed independence and steering clear of political issues, while addressing the demand for the Fed to get involved in climate change issues.
- Fed's Powell emphasizes need for more evidence that inflation is easing before cutting rates CNBC
- Powell Still Sees Room for the Fed to Cut Rates This Year The Wall Street Journal
- Powell Says Fed Has Time to Assess Data Before Deciding to Cut Bloomberg
- Powell says the Federal Reserve still sees rate cuts this year; election timing won’t affect decision PBS NewsHour
- Powell sticks with Fed's cautious rate-cut strategy Reuters
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