Powell said that while inflation continues to make its way lower, the current state of policy should remain intact.
Fed Chair Jerome Powell said the U.S. economy has not seen inflation come back to the central bank's goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon.
Speaking to a policy forum focused on U.S.-Canada economic relations, "The recent data have clearly not given us greater confidence, and instead indicate that it's likely to take longer than expected to achieve that confidence," he said."That said, we think policy is well positioned to handle the risks that we face."Powell added that until inflation shows more progress,"We can maintain the current level of restriction for as long as needed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Chair Powell says there has been a ‘lack of progress' this year on inflationFederal Reserve Chair Jerome Powell said the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing…
Read more »
Watch Fed Chair Powell speak live during a policy forum in WashingtonFed Chair Jerome Powell speaks to the Wilson Center’s Washington Forum on the Canadian Economy.
Read more »
Fed Chair Jerome Powell signals rate cuts aren’t imminentThe Federal Reserve has been keen on paying attention to investors’ expectations on interest rates. But the Fed is prepared to ignore Wall Street’s hope for a rate cut in June if it feels the economy isn’t ready yet.
Read more »
Watch Fed Chair Powell speak live at Stanford policy conference economic forumFederal Reserve Chair Jerome Powell speaks Wednesday to the Stanford Business, Government and Society forum.
Read more »
Fed Chair Jerome Powell pumps brakes on rate cuts'We have time to let the incoming data guide our decisions,' Powell said.
Read more »
Fed Chair Jerome Powell Drops Crucial Statement That Impacts Crypto MarketJerome Powell drops crucial statement for crypto market
Read more »