Federal Reserve Inflation

The Fed says progress has been made in the fight against inflation

Federal Reserve Chair Jerome Powell has expressed satisfaction with the current progress in the inflation battle but indicated a desire for additional positive data before considering a reduction in interest rates.

“We want to be more confident that inflation is moving sustainably down toward 2% before we start the process of reducing or loosening policy,” he said.

While Powell acknowledges progress in inflation, he remains cautious about acting prematurely and jeopardizing the trend of decreasing prices.

Markets moved up after Powell’s comments.

Update: A Fed statement released after the market closed stated that – Fed says it’s not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal

Leave a Reply

Your email address will not be published. Required fields are marked *