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Powell Does Not Categorically Rule Out May or June Cut

FED
  • Q: Can you speak about cut timing?
    • We make decisions meeting by meeting, we didn't make any decisions about future meetings today. These are going to depend on our ongoing assessment. Things happen during an inter-meeting period, I wouldn't want to dismiss anything. The FOMC wants to see more data that gives us higher confidence that inflation is moving down sustainably toward 2%. We don't see this in the data right now, but if there were a significant weakening in the data (particularly in the labor market), that could be a reason for us to begin the process of cutting rates again.
  • Note that while he doesn't sound to enthusiastic on the prospect, Powell doesn't categorically dismiss a potential cut in May or June, as he did with March cut back in the January press conference

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