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Powell Not Prepared ‘Yet’ to Say He’s Confident About Inflation
Federal Reserve Chair Jerome Powell said he believes inflation is receding, but isn’t yet confident that price gains are sustainably slowing to the central bank’s 2% goal. “I do have some confidence” that inflation is receding, the Fed chief told House lawmakers on his second day of testimony in Washington. “The question is: Are we sufficiently confident that it is moving sustainably down to 2%? And I’m not prepared to say that yet.” Powell said recent price readings have shown “modest further progress,” and “more good data” would strengthen the central bank’s confidence that inflation was ... (full story)
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- Posted: Jul 10, 2024 4:49pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,532
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