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Federal Reserve Chair Jerome Powell emphasized the need for positive inflation readings before considering rate cuts. US inflation, as measured by the personal consumption expenditures price index, rose less than expected in February. Powell expects inflation to gradually reach 2%. The ECB and Federal Reserve may diverge on rate cuts due to weak growth and softer inflation. Powell reiterated the Fed's patience in cutting rates, signaling no rush. The Fed's preferred inflation gauge, the core PCE index, remained at 2.8%, potentially influencing a mid-year rate cut decision.
Federal Reserve Chair Jerome Powell said that a new inflation report released Friday is "along the lines of what we want to see," sticking to an assertion that inflation is still on a "bumpy path" to the central bank's goal of 2%. https://t.co/UwzfsmtYaN
Greek central banker says ECB rate cuts of a total of 100 points possible this year https://t.co/1itpupaAZc https://t.co/gGgMJnohyX
🇺🇸 U.S. INFLATION SURGES: A BUMP OR TREND? February's PCE index revealed a sharp increase in U.S. inflation, challenging the Biden administration’s hopeful notion that high inflation is under control. Federal Reserve Chair Powell reportedly views the report as a bump in the… https://t.co/KUNavFVHu4 https://t.co/EMbXdUOnJD
