"Powell Expects Cooling US Inflation, Advises Against Rushing to Cut Rates"
TL;DR
Federal Reserve Chair Jerome Powell stated that he does not anticipate interest rates to return to the extremely low levels seen during the financial crisis. This comes after the release of the personal consumption expenditures price index, the Fed's preferred inflation measure, which showed a rise. Powell also mentioned that there were no surprises in the data and that inflation risks are not currently elevated.
- Powell doesn't see interest rates going back to ultralow financial-crisis-era levels MarketWatch
- US inflation ticked higher last month, reversing some recent progress CNN
- Fed Chair Says Central Bank Need Not 'Hurry' to Cut Rates The New York Times
- Remarks from Chair Jerome H. Powell at the Macroeconomics and Monetary Policy Conference Federal Reserve Bank of San Francisco
- Federal Reserve chair Jay Powell expects US inflation to keep cooling in coming months Financial Times
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