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MNI BRIEF: Powell-Need Continuing Evidence Of Lower Inflation

(MNI) WASHINGTON

Fed likely at peak of tightening cycle but the data has caught policymakers off guard before, Powell says.

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Falling inflation rates over the latter part of last year are welcome but the Federal Reserve still needs to see additional progress before it can begin lowering interest rates, Fed Chair Jerome Powell said during his press conference Wednesday.

“We will need to see continuing evidence to build confidence that inflation is moving sustainably down toward our goal,” he said. "We have confidence that has been increasing but we want greater confidence. We want to see more good data. It is not that we are looking for better data but continuation of the better data." (See MNI INTERVIEW: Fed Overtightend But Will Wait 'Til May)

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Falling inflation rates over the latter part of last year are welcome but the Federal Reserve still needs to see additional progress before it can begin lowering interest rates, Fed Chair Jerome Powell said during his press conference Wednesday.

“We will need to see continuing evidence to build confidence that inflation is moving sustainably down toward our goal,” he said. "We have confidence that has been increasing but we want greater confidence. We want to see more good data. It is not that we are looking for better data but continuation of the better data." (See MNI INTERVIEW: Fed Overtightend But Will Wait 'Til May)