Fed stays on track for rate cuts with one eye on bumpy inflation
21/3/2024 6:27
Federal Reserve policymakers are largely sticking to their path of interest-rate cuts — for now — after hitting a bump on the road to low and steady inflation.
The recent pickup in monthly inflation didn’t sway Fed Chair Jerome Powell’s message Wednesday that price pressures will continue to ease or that it will likely be appropriate to lower rates at some point this year. And a narrow majority of US central bank officials signaled they still expect to cut rates three times in 2024.
Source: Bloomberg
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