Central Banks
Powell Signals Fed’s Focus Has Returned Firmly to Inflation
- Powell says 2024 inflation forecast has ‘kind of fallen apart’
- Officials’ forecasts signal just two rate cuts next year
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Federal Reserve officials capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore.
Chair Jerome Powell put it plainly: The central bank’s year-end inflation projection has “kind of fallen apart.”