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Published 1 month ago

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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