"Powell Signals Delay in Rate Cuts as High Inflation Persists"
TL;DR
Federal Reserve chair Jerome Powell indicated that persistently high inflation is likely to delay any interest rate cuts until later this year, suggesting a shift from previous expectations of three quarter-point reductions. Recent data showing inflation above the 2% target and robust economic growth have led to a revised forecast of only two rate cuts, with the first expected in September, compared to earlier expectations of as many as six cuts.
Topics:top-newsfinanceeconomy#federal-reserve#financeeconomy#inflation#interest-rates#jerome-powell#rate-cuts
- Fed chair Jerome Powell: high inflation likely to delay rate cuts this year The Guardian
- Fed Chair Powell says there has been a 'lack of further progress' this year on inflation CNBC
- Powell signals rate cut delay as inflation plateaus above target Business Insider
- Dollar Power: Fed's Higher-for-Longer Is Turning the Currency Screws Bloomberg
- Heard on the Street Tuesday Recap: Powell Pivots Again The Wall Street Journal
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