Reported about 1 year ago
Federal Reserve Chair Jay Powell indicated that the central bank is getting closer to feeling comfortable about interest rate cuts, mentioning cooler inflation as an encouraging sign. Powell highlighted that more 'good data' is required to strengthen confidence in inflation moving towards the 2% target. He also pointed out that the labor market is cooling down and attracting policymakers' attention, suggesting an environment conducive to rate cuts is approaching. Powell reaffirmed that monetary policy decisions will be made meeting by meeting and emphasized the importance of the Fed's independence from political influence.
Source: YAHOO