Central Banks
Powell Says Fed Has Time to Assess Data Before Deciding to Cut
- Too soon to say whether recent price pickup more than a bump
- Recent data have not materially changed overall picture
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Federal Reserve Chair Jerome Powell signaled policymakers will wait for clearer signs of lower inflation before cutting interest rates, even though a recent bump in prices didn’t alter their broader trajectory.
Powell said recent inflation figures — though higher than expected — did not “materially change” the overall picture. He reiterated his expectation that it will likely be appropriate to begin lowering rates “at some point this year.”