Powell Dials Back Expectations on Rate Cuts Inflation and hiring have been firmer than expected this year, weakening the case for pre-emptive rate reductions Firm inflation during the first quarter has called into question whether the Federal Reserve will be able to lower interest rates this year without signs of an unexpected economic slowdown, Chair Jerome Powell said Tuesday. His remarks indicated a clear shift in the Fed’s outlook following a third consecutive month of stronger-than-anticipated inflation readings, which derailed hopes that the central bank might be able to deliver pre-emptive rate cuts this summer. Officials had previously said they were looking for greater confidence that inflation was returning to their target and were optimistic another month or two of data might meet that standard. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts 30-Year Fixed Mortgage Back Near 7%: Mortgage Interest Rates Today for March 25, 2024 READ MORE Over 80,000 Global Enthusiasts Flock to HongKong’s Twin Jewellery Shows READ MORE Persistent Inflation Challenges Eurozone, Core Prices Higher Than Anticipated READ MORE Gold gains big but is Silver being suppressed? READ MORE Add a Comment Cancel replyYour email address will not be published.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