4 Apr 2024


Fed Chairman Powell reiterated the Federal Reserve's cautious stance on interest-rate cuts, stating that they would wait and observe before making any decisions. While Powell didn't introduce any significant changes, his comment provided relief to Wall Street by suggesting that recent inflation data hadn't substantially altered the overall economic outlook. He also reiterated the likelihood of rate reductions at some point during the year. “On inflation, it is too soon to say whether the recent readings represent more than just a bump,” Mr. Powell stated. “We do not expect that it will be appropriate to lower our policy hashtag#rate until we have greater confidence that inflation is moving sustainably down toward 2 percent.” At the same time, he said that cuts to the benchmark federal funds rate are “likely to be appropriate at some point this year” as he does not believe “inflation is reversing higher.”


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