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Federal Reserve Chair Jerome Powell commented on the recent PCE inflation report, stating it aligns with the Fed's expectations. Powell emphasized that interest rate cuts won't be considered until inflation is on track towards the 2% goal. The latest US inflation data was described as meeting the Fed's desired levels, keeping the baseline for interest-rate cuts unchanged.
The latest US inflation data is 'along the lines of what we would like to see,' Federal Reserve Chair Jerome Powell said in comments that appeared to keep the central bank's baseline for interest-rate cuts this year intact https://t.co/gfVtI7cCfQ https://t.co/fBROzWrGhE
⚠️ JUST IN: *FED CHAIR POWELL: PCE INFLATION REPORT IN LINE WITH OUR EXPECTATIONS https://t.co/CQvqwO3WFl https://t.co/aLtoFhPDP9
Chair Jerome Powell says PCE report is “pretty much in line” with the Fed's expectations, but: “We don't see it as likely to be appropriate that we would begin to reduce interest rates until the committee...is confident that inflation is moving down to 2% on a sustained basis.” https://t.co/S3NLTI1ovU
