Reported 12 months ago
Federal Reserve Chair Jerome Powell mentioned that inflation in the US is slowing down after peaking earlier in the year, with data showing signs of a disinflationary path in April and May. Powell stated the Fed needs further evidence before considering rate cuts to combat high inflation, aiming for prices to approach the 2% target. He emphasized the challenge of finding the right balance in monetary policy to prevent inflation resurgence or economic weakening, while most economists predict a rate cut in September.
Source: YAHOO