Central Banks
Powell Keeps Rate Cuts on Table But Leaves Timing Less Certain
- Fed chief says next policy move is unlikely to be a rate hike
- Officials announced plans to slow their balance-sheet unwind
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Federal Reserve Chair Jerome Powell kept hopes alive for an interest-rate cut this year while acknowledging that a burst of inflation has reduced policymakers’ confidence that price pressures are ebbing.
Powell, speaking to reporters Wednesday following the US central bank’s latest meeting in Washington, said price growth will likely resume cooling this year, but avoided offering a timeline for rate cuts.