Fed Chair Jerome Powell reiterated his stance that the central bank will need to remain patient and see further progress on inflation before reducing...
Fed Chair Jerome Powell said Tuesday his confidence that inflation will keep cooling is not as high as it was at the start of the year, and that the central bank
", I would say my confidence in that is not as high as it was having seen these readings in the first three months of the year." Notably, however, March's monthly price increase was revised lower to a decrease of 0.1% from an initial reading of a 0.2% increase. "I do think it's really a question of keeping policy at the current rate for a longer time than had been thought," Powell said.. On Monday, Fed vice chair Philip Jefferson said the Fed would need "additional evidence" inflation is falling to the Fed's 2% target before cutting interest rates.
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