Jerome Powell says Fed wants to see ''more good inflation readings'' before it can cut rates

Posted on:
Key Points

Federal Reserve Chair Jerome Powell on Friday reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it won't be ready to do so until it sees "more good inflation readings'' and is more confident that annual price increases are falling toward its 2 per cent target..

Speaking at a conference at the Federal Reserve Bank of San Francisco, Powell said he still expected "inflation to come down on a sometimes bumpy path to 2 per cent"...

But the central bank's policymakers, he said, need to see further evidence before they would cut rates for the first time since inflation shot to a four-decade peak two years ago...

The combination of sturdy growth and decelerating inflation has raised hopes that the Fed is engineering a "soft landing'' - taming inflation without causing a recession..

But the economy's strength, Powell said, means the Fed isn't under pressure to cut rates and can wait to see how the inflation numbers come in...

You might be interested in

Powell says Fed wants to see 'more good inflation readings' before it can cut rates

29, Mar, 24

International Business News: WASHINGTON: Federal Reserve Chair Jerome Powell on Friday reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest r.

US Fed meeting takeaways: When can we expect next rate cut?

01, Aug, 24

US Fed chief Jerome Powell hinted on Wednesday that the US Fed might cut its key lending rate in the coming months.

Top central bankers see further tightening to counter inflation

28, Jun, 23

Although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough, Federal Reserve Chair Jerome Powell said at a conference at the Portuguese resort of Sintra. His comments on inflation were largely echoed by Bank of England Governor Andrew Bailey and European Central Bank President Christine Lagarde, both of whom said they expect more moves.

Dollar edges up as March Fed cut bets unwind, sterling trims losses after BoE

01, Feb, 24

By Alun John and Samuel Indyk LONDON (Reuters) -The dollar rose slightly on Thursday after Federal Reserve Chair Jerome Powell pushed back against bets of early U.S. rate cuts, while sterling cut

No hurry to cut interest rates, US Fed Chair indicates

30, Mar, 24

New York [US], March 30 (ANI): The US Federal Reserve on Friday indicated that it was not in any hurry to cut interest rates. In his address at an event hosted by the San Francisco Fed on Friday, US Fed Chair Jerome Powell said “We don’t need to be in a hurry to cut.” Show […]

Fed raises rates, opens door to pause in tightening cycle

04, May, 23

The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks.

Fed’s Powell Says Interest-Rate Pause Is Expected to Be Temporary

21, Jun, 23

Central bank chairman delivers testimony to Congress on outlook for economy and banking system

US inflation still 'uncomfortably' high: Fed official

11, Aug, 24

US inflation remains uncomfortably above the Federal Reserve's target despite the progress it has made in recent months, a senior bank official said Saturday. Despite upside risks, Bowman said she still expects inflation to ease in the coming months, but warned policymakers to remain patient and avoid undermining continued progress on lowering inflation by overreacting to a single data point.

Wall Street gets reality check as Powell saps fast rate-cut bets

01, Feb, 24

Jerome Powell's cautious approach dampens expectations of a rate cut, causing a reality check on Wall Street. Find out how this impacts the markets and investor sentiment.