Powell Signals Rate Cut Delay As Inflation Plateaus Above Target Business Insider

Image for article Powell Signals Rate Cut Delay As Inflation Plateaus Above Target Business Insider
News Source : Business Insider

News Summary

  • US Federal Reserve chair Jerome Powell damped expectations of impending interest rate cuts on Tuesday
  • Powell said inflation pressure has eased in the last year, but hasn't come down enough in recent months
  • This means that the Fed isn't confident at this point that inflation is headed to its 2% target level in the longer term

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