Fed Chair Powell says there has been a 'lack of further progress' this year on inflation
Publishing timestamp: 2024-04-16 18:27:55
Summary
Fed Chair Jerome Powell stated that the U.S. economy has not seen inflation return to the central bank's goal, indicating that interest rate cuts are unlikely in the near future. Powell emphasized the need for more progress in inflation before any policy changes are made. Financial markets have adjusted their expectations for rate cuts this year based on recent data.
Sentiment: NEUTRAL
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