Central Banks
Powell Tells ‘60 Minutes’ Fed Is Wary of Cutting Rates Too Soon
- Powell reiterates that a March interest-rate cut is unlikely
- 2024 rate forecasts probably haven’t changed ‘dramatically’
Source: CBS/Bloomberg
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Federal Reserve Chair Jerome Powell said Americans may have to wait beyond March for the central bank to cut interest rates as officials look for more economic data to confirm that inflation is headed down to 2%.
In an interview conducted Thursday with CBS’s 60 Minutes that aired Sunday evening, Powell sought to explain the central bank’s rationale for eventual reductions to a broad public audience.