Fed Chair Powell says there has been a 'lack of further progress' this year on inflation

NBC News— Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way lower, it hasn’t moved quickly enough, and the current state of policy should remain intact. “More recent data shows...

The Guardian—Fed chair Jerome Powell: high inflation likely to delay rate cuts this year. US central banker says ‘recent data have clearly not given us greater confidence’ that inflation coming fully under controlThe Federal Reserve chair, Jerome Powell, cautioned on Tuesday that persistently elevated inflation will probably delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.“Recent data have clearly not given us greater confidence” that inflation is coming fully under control and “instead indicate that it’s likely to take...

VINnews—Fed's Powell: Elevated Inflation Will Likely Delay Rate Cuts This Year. WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s […]

ABC News—Fed's Powell: Elevated inflation will likely delay rate cuts this year. Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates