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MNI BRIEF: Fed's Powell Suggests March Cut Not Likely

(MNI) WASHINGTON

Fed Chair pushes back against market pricing for a possible March rate cut.

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Federal Reserve Chair Jerome Powell Wednesday downplayed the prospect of a March rate cut that many in financial markets have been expecting, saying it's unlikely there will be enough progress on inflation by then to justify such a move.

"I would tell you that I don't think it is likely that the committee will reach a level of confidence by the time of the March meeting to identify March at as the time to do that, but that is to be seen," Powell told reporters at a press conference. (See MNI INTERVIEW: Fed Can Wait Until Summer For Rate Cuts-English)

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Federal Reserve Chair Jerome Powell Wednesday downplayed the prospect of a March rate cut that many in financial markets have been expecting, saying it's unlikely there will be enough progress on inflation by then to justify such a move.

"I would tell you that I don't think it is likely that the committee will reach a level of confidence by the time of the March meeting to identify March at as the time to do that, but that is to be seen," Powell told reporters at a press conference. (See MNI INTERVIEW: Fed Can Wait Until Summer For Rate Cuts-English)