PARIS - Federal Reserve Chair Jerome Powell added more weight to expectations the central bank will cut interest rates later this month, stressing Tuesday that the US inflation outlook is near histori
c lows.
Central bankers have "raised concerns about a more prolonged shortfall in inflation below our 2 percent target," Powell said in a prepared speech at a Bank of France event. Despite the Fed's confidence that the US economy will continue to grow, many officials feel "the combination of these factors strengthens the case for a somewhat more accommodative stance of policy."
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