US Fed chair says confidence inflation will ease ‘not as high as it was’

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Us Federal Reserve News

Us Fed Chair,Jerome Powell,Inflation

WASHINGTON, May 15 — Federal Reserve chair Jerome Powell said Tuesday that hot US inflation data has lowered his level of confidence that price rises will slow back down towards...

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“The first quarter in the United States was notable for its lack of further progress on inflation,” the head of the US central bank said during an event in the Netherlands that was streamed online. The Fed has held interest rates at a 23-year high as it looks to bring inflation down to its long-term 2 per cent target.After making progress for much of last year, the rate at which consumer prices have been rising has accelerated since the start of 2024, pushing back expectations of interest rate cuts.

Us Fed Chair Jerome Powell Inflation

 

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