Reported 12 months ago
US Federal Reserve Chair Jerome Powell stated that while the US is heading towards lower inflation, more data is required before considering rate cuts. Inflation has not increased as per the Fed’s preferred measure, and the 12-month rate is at 2.6%, slightly above the 2% target. Powell emphasized the need to ensure that inflation trends align with policy goals before loosening policies, acknowledging that the risks to inflation and employment goals are approaching balance.
Source: YAHOO