No rate cut until Powell’s confidence in inflation slows

Federal Reserve Chairman Jerome Powell said on the 21st that he would not consider a rate cut until he was “very confident” that inflation was heading towards the 2% target.

Chairman Powell said in a press conference after the regular meeting of the Federal Open Market Committee (FOMC) that he would keep interest rates at a high level until inflation was firmly under control.

Chairman Powell warned of the risk of a premature rate cut, but added that “at some point it may be appropriate to slow the rate increase.”

/happy news

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