Powell Welcomes Recent Data But Fed Needs More Confidence to Cut
- Latest price data offer signs US back on disinflationary path
- Fed chief speaks on panel in Sintra with Lagarde, Campos Neto
Jerome Powell
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve Chair Jerome Powell said the latest economic data suggest inflation is getting back on a downward path, but emphasized officials need more evidence before lowering interest rates.
While Powell declined to give any specific guidance on the timing of the first rate reduction, he did acknowledge the Fed has made “quite a bit of progress” in reducing inflation. The Fed chief added he’d like to see that progress continue.