Fed's Powell: Elevated inflation will likely delay rate cuts this year
- Federal Reserve chair Jerome Powell warned that persistent high inflation may delay Fed interest rate cuts, potentially leading to higher rates for a longer period.
- Powell stated that recent data indicate a longer timeframe than expected to control inflation, expressing the need for confidence before rate adjustments.
- If inflation persists, Powell suggested keeping interest rates at the current level for as long as necessary to address the issue.
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Leaning Left12Leaning Right9Center36Last Updated13 days agoBias Distribution63% Center