Federal Reserve Chair Jerome Powell has indicated that due to persistently high inflation, anticipated interest rate cuts might be postponed to later this year, potentially maintaining higher rates for an extended period. Speaking at the Wilson Center, Powell expressed concerns that recent data do not confirm inflation is under control and hinted it may take longer than previously expected to stabilize. He emphasized that if high inflation continues, the Fed is prepared to keep interest rates elevated as necessary. This stance suggests that the Fed might implement fewer rate reductions than the three quarter-point cuts previously forecasted in March.
Posted: 2024-04-18 16:37:15.000000