Fed's Powell: Elevated inflation will likely delay rate cuts this year
Time:2024-04-30 10:13:35 Source:businessViews(143)
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 likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion at the Wilson Center.
“If higher inflation does persist,” he said, “we can maintain the current level of (interest rates) for as long as needed.”
The Fed chair’s comments suggested that without further evidence that inflation is falling, the central bank will likely carry out fewer than the three quarter-point reductions its officials had forecast during their most recent meeting in March.
Previous:The North London neighbourhood plagued by anti
Next:'Flying Apsaras' takes flight in Beijing, set for nationwide tour
You may also like
- UN human rights chief condemns killings of women and children in Rafah
- It's an all
- Twins right
- Farce as Met Police apologise for threatening to arrest 'openly Jewish' man caught in pro
- Insider Q&A: Avelo Airlines CEO Andrew Levy describes the challenges of starting a new carrier
- War, hostages, antisemitism: A somber backdrop to this year's Passover observances
- AP Photos: The skies fill with color at a Chinese kite festival
- That'll show 'em! All
- Chinese citizen killed, another wounded in mass stabbing attack at Sydney mall