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

(MNI) WASHINGTON

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

USCentral Bank NewsPolicy NewsFederal ReserveBriefStoryRegionNorth America

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)

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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)