"Powell Stresses Patience on Rate Cuts Despite Inflation Increase"
TL;DR Summary
Federal Reserve Chair Jerome Powell indicated that the central bank is not in a rush to cut interest rates, citing strong employment data and a gradual increase in inflation. Powell expressed concerns about cutting rates too soon, fearing a potential inflationary backlash, while also acknowledging the risks of leaving rates unchanged for too long. He emphasized that the Fed's independence from political influence is crucial for achieving its mandated goals of price stability and maximum employment, as his term at the Fed nears its end.
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- Powell Reiterates Fed Doesn't Need to Be In Hurry to Cut Rates Bloomberg
- Fed Chair Says Central Bank Need Not 'Hurry' to Cut Rates The New York Times
- "Hard to say" where interest rates will settle, Fed chair says Marketplace
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