Fed Chair Jerome Powell Projects Optimism, But Inflation Data Are in the Driver’s Seat Federal Reserve Chair Jerome Powell tried to keep the central bank’s options open Wednesday by sticking with his view that interest rates are restrictive and that inflation was likely to resume its decline. But a string of disappointing readings on price and wage pressures have led investors to put less weight on the central bank’s outlook and more attention on how the economic data unfold. “Powell can say whatever he wants, but ultimately the inflation numbers will dictate what happens,” said Neil Dutta, head of economic research at Renaissance Macro Research. The Fed maintained language in its policy statement Wednesday that suggested an interest-rate cut was still more likely than an increase—a so-called easing bias. But William English, a former senior Fed adviser, said it was possible that if inflation data continued to run hotter, the Fed would need to jettison that guidance, opening the door wider to hikes. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Kazakhstanis Keeping Less Foreign Currency, Buying More Gold READ MORE Hedge Fund That’s Up 227% Makes Bet on Gold READ MORE U.S. Job Surge Puts Pressure on Fed's Inflation Strategy READ MORE Biden-Harris Administration Releases First Set of Draft Rules to Provide Debt Relief to Millions of Borrowers READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment