Fed Chair Powell Sees Some Positive Movement on Inflation, but Not Enough to Expect Rate Cut in 2023
“Given our outlook, I don’t see us cutting rates this year, if our outlook comes true,” the Fed chair said.
Fed Chairman Jerome Powell began his post-meeting press conference by reaffirming the Federal Reserve’s stance in the fight against inflation.
In reiterating his comments from previous press conferences, Powell remained “strongly committed” to bringing down inflation. Powell also mentioned the need for ongoing rate increases while stressing the problems that inflation can cause for consumers and the labor market.
“Without price stability, the economy does not work for anyone,” Powell said.
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