Reported 12 months ago
Federal Reserve Chair Jerome Powell expressed optimism about the recent cooler inflation data, indicating a potential return to a disinflationary path. Despite the positive signals, the Fed is not expected to cut rates at its upcoming meeting in July, with Powell emphasizing the need for further evidence and confirming the importance of patience when assessing inflation levels. The central bank raised its inflation outlook but reduced its projection for rate cuts this year, highlighting the importance of understanding underlying inflation trends.
Source: YAHOO