It will probably take longer than previously expected for the Federal Reserve to gain enough confidence about the inflation trajectory to start cutting interest rates, Chair Jerome Powell said.
“We’ve stated that we do not expect that it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2%,” Powell said during a press conference Wednesday after the central bank elected to leave its benchmark interest rate unchanged and signaled fresh concerns about inflation.
Source: Bloomberg
3287.99
1275.09