Central Banks
Fed Officials to Signal Interest Rate Cuts Are Getting Closer
- Powell says Fed is ‘not far’ from the evidence needed to cut
- Investors likely to focus on the new rate forecasts in March
Jerome Powell
Photographer: Al Drago/BloombergThis article is for subscribers only.
Eight months after raising interest rates to a two-decade high, Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight.
In congressional testimony last week, Powell emphasized the central bank needs “just a bit more evidence” inflation is headed toward its 2% target before lowering borrowing costs. “We’re not far from it,” he said.