Free Trial

MNI BRIEF: Powell-Need More Good Data Before Fed Rate Cuts

Policy is well positioned to deal with risks and uncertainties, Fed Chair says.

Federal Reserve officials need more evidence that inflation is returning sustainably back to target before they have enough confidence to start reducing interest rates, Fed Chair Jerome Powell said Wednesday.

"We'll need to see more good data to bolster our confidence that inflation is moving sustainably toward 2%.Certainly, more good inflation readings will help with that," Powell told reporters during his post-meeting press conference. " (See MNI INTERVIEW: Fed Set For One Or Two Cuts This Year-Bullard)

85 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Federal Reserve officials need more evidence that inflation is returning sustainably back to target before they have enough confidence to start reducing interest rates, Fed Chair Jerome Powell said Wednesday.

"We'll need to see more good data to bolster our confidence that inflation is moving sustainably toward 2%.Certainly, more good inflation readings will help with that," Powell told reporters during his post-meeting press conference. " (See MNI INTERVIEW: Fed Set For One Or Two Cuts This Year-Bullard)