Powell reinforces position that the Fed is not ready to start cutting interest rates

On Wednesday, Federal Reserve Chair Jerome Powell reiterated his anticipation of a decrease in interest rates this year but refrained from specifying a precise timing.

In his prepared statements for the mandated appearances before Congress on both Wednesday and Thursday, Powell emphasized the ongoing vigilance of policymakers regarding the inflation risks and their reluctance to implement rapid adjustments.

He stated, “When contemplating any modifications to the policy rate target range, we will thoroughly evaluate the incoming data, the evolving economic outlook, and the risk balance, CNBC reported.

READ MORE: https://www.cnbc.com/2024/03/06/powell-reinforces-position-that-the-fed-is-not-ready-to-start-cutting-interest-rates.html

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