Top central bankers assert need for higher interest rates to tackle persistent inflation
1 year, 9 months ago

Top central bankers assert need for higher interest rates to tackle persistent inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Leading global central bankers asserted Wednesday that they are not backing off their steep interest rate increases, pointing to inflation being more persistent than expected but still downplaying fears of recession from their hikes. The clear message was that rates would stay high until the inflation beast is subdued, according to a panel discussion with U.S. Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde, Bank of England Gov. “We have to be resolute and decided and determined in reaching the target that we have set and not debate the target as we are running that race.” Despite rapid rate increases of 5 percentage points, Powell said rates “haven't been restrictive very long” and that "the bottom line is that policy hasn’t been restrictive enough for long enough.” He and Lagarde both said there was more work to do. Lagarde said the slip was more like stagnation, adding that the ECB's “baseline does not include a recession, but it’s part of the risk out there.” Since early 2021, almost 95% of the world’s central banks have raised rates, even more than during the inflationary oil price shocks of the 1970s, according to the Bank for International Settlements, Switzerland-based global organization of central banks.

Europe Inflation Bank Central Banks Central Rate Rates Higher Bailey Powell Ecb Lagarde Tackle Persistent  central  risk  bankers  inflation  recession  powell  need  tackle  persistent  bank  interest  prices  higher  sign  rate  assert  rates

History of this topic

With outlook uncertain, the Bank of England joins the US Fed in putting interest rates on hold
Trending News
1 week, 2 days ago

With outlook uncertain, the Bank of England joins the US Fed in putting interest rates on hold

Associated Press  

LONDON — The Bank of England kept its main U.K. interest rate unchanged at 4.50% on Thursday even though the economy is barely growing and the nation faces more uncertainty in light of the tariff policies being enacted by the Trump administration in the U.S. The decision by the nine-member Monetary Policy Committee was widely expected, and comes a day …

U.S. Federal Reserve sees tariffs raising inflation this year, keeps key rate unchanged
1 week, 3 days ago

U.S. Federal Reserve sees tariffs raising inflation this year, keeps key rate unchanged

The Hindu  

The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year even as it sees inflation staying stubbornly elevated. Powell acknowledged that the Fed initially thought inflation coming out of the pandemic would be temporary, which led it to delay raising rates to combat higher prices. "We’re going to …

Federal Reserve keeps interest rate unchanged, sees slower growth and higher inflation
1 week, 3 days ago

Federal Reserve keeps interest rate unchanged, sees slower growth and higher inflation

Firstpost  

The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though it said the outlook is more uncertain US Federal Reserve Chair Jerome Powell holds a press conference after the Monetary Policy Committee meeting, at the Federal Reserve in Washington, DC on Wednesday. AFP The Federal Reserve kept …

The Federal Reserve sees tariffs raising inflation this year and keeps key rate unchanged
1 week, 4 days ago

The Federal Reserve sees tariffs raising inflation this year and keeps key rate unchanged

Associated Press  

WASHINGTON — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year even as it sees inflation staying stubbornly elevated. I do think with the arrival of the tariff inflation, further progress may be delayed.” On his Truth Social platform late Wednesday, Trump posted: “The Fed would be …

Bank of Canada cuts interest rates, warned country faces ‘new crisis’
2 weeks, 4 days ago

Bank of Canada cuts interest rates, warned country faces ‘new crisis’

Al Jazeera  

BoC also said it would ‘proceed carefully with any further changes’ to rates given inflationary pressures from tariffs. The Bank of Canada has trimmed its key policy rate by 25 basis points to 2.75 percent and raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty and President Donald Trump’s tariffs. The bank on Wednesday also said it …

Inflation eases to 2.4% in Europe, supporting likely central bank rate cut
3 weeks, 5 days ago

Inflation eases to 2.4% in Europe, supporting likely central bank rate cut

Associated Press  

FRANKFURT, Germany — Inflation in Europe eased to an annual 2.4% in February, supporting the case for another interest rate cut from the European Central Bank - but leaving open how far the central bank will go in lowering borrowing costs for an economy that’s still struggling to show robust growth. The February figure for the 20 countries that use …

Fed’s Harker supports steady interest rate policy stance for now
1 month, 1 week ago

Fed’s Harker supports steady interest rate policy stance for now

Live Mint  

By Michael S. Derby NEW YORK, Feb 17 - Federal Reserve Bank of Philadelphia President Patrick Harker sounded an upbeat note on the state of the U.S. economy on Monday, and said he saw no reason to change interest rate policy right now as the central bank continued to work to lower inflation levels. Inflation remains elevated but appears on …

Relief for Brits with Bank of England set to cut interest rates TODAY to boost Labour's stalling economy - despite fears Trump trade war will fuel inflation
Trending News
1 month, 3 weeks ago

Relief for Brits with Bank of England set to cut interest rates TODAY to boost Labour's stalling economy - despite fears Trump trade war will fuel inflation

Daily Mail  

The Bank of England is poised to offer Brits some relief and boost the stalling economy today with a cut to interest rates. The need to kickstart activity looks set to outweigh fears that Donald Trump's trade tariffs will put upwards pressure on inflation - something Threadneedle Street uses interest rates to counter. The base rate rose as high as …

Fed leaves rates unchanged, sees no hurry to cut again
Trending News
2 months ago

Fed leaves rates unchanged, sees no hurry to cut again

Live Mint  

* US central bank leaves policy rate in 4.25%-4.50% range * Officials still waiting for clarity on Trump policies * 'We do not need to be in a hurry,' Powell says By Howard Schneider, Michael S. Derby WASHINGTON, Jan 29 - The U.S. central bank held interest rates steady on Wednesday and Federal Reserve Chair Jerome Powell said there would …

How Federal Reserve's interest rate pause will impact regular American wallets
2 months ago

How Federal Reserve's interest rate pause will impact regular American wallets

Hindustan Times  

Borrowers hoping for more financial relief from the Federal Reserve may need to wait longer, as the central bank is expected to pause additional rate cuts at its January 29 meeting. Federal Reserve officials held interest rates steady, pausing to assess the inflation outlook following a string of rate reductions last year. How Fed's interest rate pause affects borrowers “Anyone …

Fed hold rates steady, sees inflation as ‘elevated,’ as Powell declines comment on Trump
2 months ago

Fed hold rates steady, sees inflation as ‘elevated,’ as Powell declines comment on Trump

Associated Press  

WASHINGTON — The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue. In a statement, the Fed said the job market is “solid,” and noted …

The Federal Reserve holds interest rates steady as inflation remains stubborn
2 months ago

The Federal Reserve holds interest rates steady as inflation remains stubborn

NPR  

The Federal Reserve holds interest rates steady as inflation remains stubborn toggle caption Andrew Caballero-Reynolds/AFP The Federal Reserve held interest rates steady Wednesday as it seeks to curb stubborn inflation. Sponsor Message While the decision to leave rates unchanged was widely expected, it sets up a potential clash with President Trump, who told reporters earlier this month that he believes …

US inflation likely remained sticky-high last month, threatening interest rate cuts
2 months, 2 weeks ago

US inflation likely remained sticky-high last month, threatening interest rate cuts

Hindustan Times  

US inflation probably worsened last month on the back of higher prices for gas, eggs, and used cars, a trend that could make it less likely that the Federal Reserve will cut its key interest rate much this year. Last Friday's unexpectedly strong jobs report caused stock and bond prices to plunge on fears that a healthy economy could keep …

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold
3 months, 1 week ago

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold

Associated Press  

LONDON — The U.K.’s central bank warned Thursday of “heightened uncertainty” as it kept interest rates on hold after inflation moved further above target, even at a time when the British economy is flatlining at best. The Bank of England’s nine-member Monetary Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation rising to 2.6%, …

Bank of England set to keep UK interest rates on hold despite paltry economic growth
3 months, 1 week ago

Bank of England set to keep UK interest rates on hold despite paltry economic growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The U.K.'s central bank is …

Interest rates live updates: Bank of England verdict due after surprise inflation rise
Top News
3 months, 1 week ago

Interest rates live updates: Bank of England verdict due after surprise inflation rise

The Independent  

Chancellor of the exchequer Rachel Reeves said the figures are a ‘reminder that for too long the economy has not worked for working people For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN …

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Top News
3 months, 1 week ago

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation

Daily Mail  

The Bank of England is set to keep interest rates on hold today despite mounting alarm at the stalling economy. Interest rates, which influence how much banks charge for loans and mortgages, are used as a tool by the central bank to keep inflation at its 2 per cent target level. Rob Wood, chief UK economist for Pantheon Macroeconomics, said: …

UK interest rates set to be held at 4.75% after inflation rises again
3 months, 1 week ago

UK interest rates set to be held at 4.75% after inflation rises again

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates are expected …

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent
Top News
3 months, 1 week ago

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent

The Independent  

Chancellor of the exchequer Rachel Reeves said the figures are a ‘reminder that for too long the economy has not worked for working people For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN …

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?
3 months, 1 week ago

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?

Daily Mail  

Inflation in the UK climbed to 2.6 per cent in November, it was revealed today, as the rise in the cost of living accelerated again. James Smith, developed markets economist, UK, at ING, said: 'Our base case is for back-to-back to rate cuts from February onwards, with Bank Rate falling to 3.25 per cent later in the year. While services …

UK inflation increase solidifies expectations interest rates will be kept on hold
3 months, 1 week ago

UK inflation increase solidifies expectations interest rates will be kept on hold

Associated Press  

LONDON — Inflation in the U.K. rose to its highest level in eight months during November, official figures showed Wednesday, a development that has cemented market expectations that the Bank of England will opt against cutting borrowing costs this week. It said stubbornly high inflation in the crucial services sector, which accounts for around 80% of the U.K. economy, and …

Surge in wages means beleaguered borrowers must wait for interest rates cut
Trending News
3 months, 1 week ago

Surge in wages means beleaguered borrowers must wait for interest rates cut

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

Bank of England expected to hold interest rates after jump in inflation
3 months, 2 weeks ago

Bank of England expected to hold interest rates after jump in inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

OECD warns central banks about rate cuts
3 months, 3 weeks ago

OECD warns central banks about rate cuts

China Daily  

FILE PHOTO: European Central Bank President Christine Lagarde speaks to reporters following the Governing Council's monetary policy meeting in Frankfurt, Germany September 12, 2024. The Organisation for Economic Co-operation and Development, or OECD, has forecast continued economic resilience globally despite headwinds, while warning central banks against cutting interest rates too quickly amid persistent service-sector inflation. In its latest Economic Outlook …

OECD warns central banks about rate cuts
3 months, 3 weeks ago

OECD warns central banks about rate cuts

China Daily  

FILE PHOTO: European Central Bank President Christine Lagarde speaks to reporters following the Governing Council's monetary policy meeting in Frankfurt, Germany September 12, 2024. The Organisation for Economic Co-operation and Development, or OECD, has forecast continued economic resilience globally despite headwinds, while warning central banks against cutting interest rates too quickly amid persistent service-sector inflation. In its latest Economic Outlook …

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates
4 months ago

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth. The European Union’s harmonized index of consumer prices stood up 2.3% …

Liberal economist Larry Summers issues frightening warning about inflation to Americans following Trump's election
4 months, 2 weeks ago

Liberal economist Larry Summers issues frightening warning about inflation to Americans following Trump's election

Daily Mail  

Liberal economist Larry Summers warned that inflation is still not fixed and that a Trump administration could make things even worse. Liberal economist Larry Summers warned that inflation is still not fixed and that a Trump administration could make things even worse Summers is worried that President-elect Donald Trump may only make 'Bidenflation' worse The central bank made a 25 …

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation
4 months, 3 weeks ago

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent for its eighth-straight meeting, despite inflation falling to its lowest level in almost four years. In a statement, the RBA said while inflation has "fallen substantially" since it peaked in 2022, underlying inflation remained too high at 3.5 per cent in the September quarter. The …

Inflation in Europe falls below 2% and opens the way for faster rate cuts
5 months, 4 weeks ago

Inflation in Europe falls below 2% and opens the way for faster rate cuts

The Independent  

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Reserve Bank keeps interest rates on hold at 4.35pc, ignoring political pressure for cut
6 months ago

Reserve Bank keeps interest rates on hold at 4.35pc, ignoring political pressure for cut

ABC  

The Reserve Bank has left interest rates on hold at 4.35 per cent. Earlier this month, Treasurer Jim Chalmers said the RBA's rate hikes were "smashing the economy", and former Labor treasurer Wayne Swan accused the RBA of "putting economic dogma over rational decision-making" by refusing to cut rates at this point in the cycle. "With the labour market still …

Bank policymaker says higher interest rates needed to ‘purge’ inflation risks
6 months ago

Bank policymaker says higher interest rates needed to ‘purge’ inflation risks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A policymaker at the Bank …

How the US Federal Reserve rate cut could impact the race for the White House between Harris and Trump
6 months, 1 week ago

How the US Federal Reserve rate cut could impact the race for the White House between Harris and Trump

ABC  

The US Federal Reserve has cut rates in a dramatic move that will have a major impact on the American economy and could help determine who occupies the White House for the next four years. By cutting rates by half a per cent, the Fed has signalled it thinks the battle against the high inflation that has plagued the US …

PETER VAN ONSELEN: America is about to provide stunning proof that Albo and Jim badly botched Australia's inflation crisis. And their soft 'people pleaser' approach is only making it worse for every s
6 months, 2 weeks ago

PETER VAN ONSELEN: America is about to provide stunning proof that Albo and Jim badly botched Australia's inflation crisis. And their soft 'people pleaser' approach is only making it worse for every s

Daily Mail  

The news last week that inflation had fallen in the United States - such that it is now perfectly in the middle of the 2-3 percent target range the Reserve Bank of Australia would like our inflation figure to be - is proof positive that making tough decisions eventually pays off. Treasurer Jim Chalmers isn't prepared to make the sort …

Why the Reserve Bank will be forced to cut rates before year's end
6 months, 2 weeks ago

Why the Reserve Bank will be forced to cut rates before year's end

ABC  

Until just a few weeks ago, it seemed as though the developed world had pulled off what once was thought to be the impossible. And yet, despite this mounting evidence of a critical economic slump, there remains a rump of high-profile economists openly criticising the Reserve Bank of Australia's reluctance to push interest rates above 5 per cent. Parliament House …

Labor is leaning into an assault on the 'barbarians' at the bank. It may be great politics, but the economics are trickier
6 months, 3 weeks ago

Labor is leaning into an assault on the 'barbarians' at the bank. It may be great politics, but the economics are trickier

ABC  

There's plenty of buyer's remorse inside Labor these days. Treasurer Jim Chalmers has blamed successive interest rate rises for "smashing the economy", as the government braces for more weak economic figures due this week. Failure to bring inflation back to the bank's 2 per cent to 3 per cent target range would ultimately force the Reserve Bank to "slow the …

Rate cut expected as eurozone inflation falls
6 months, 4 weeks ago

Rate cut expected as eurozone inflation falls

China Daily  

EU flags flutter in front of European Central Bank headquarters in Frankfurt, Germany on July 18. Bert Colijn, an economist at ING, told the Financial Times newspaper the fact that Eurostat, the European Union's official statistics agency, declared the eurozone's inflation rate to be within a whisker of the ECB's target of 2 percent means rate cuts will be likely …

With rates on hold again, the government and the public hold their breath. What comes next?
7 months, 3 weeks ago

With rates on hold again, the government and the public hold their breath. What comes next?

ABC  

The Reserve Bank's decision to leave interest rates unchanged is the latest in a series of fizzers. RBA governor Michele Bullock did take the unusual step of telling us we should not expect a rate cut in the next six months, taking us out to at least February next year. RBA Board keeps interest rates at 4.35 per cent Photo …

Fears US economy headed towards recession spark jitters across global markets
7 months, 3 weeks ago

Fears US economy headed towards recession spark jitters across global markets

ABC  

There are genuine concerns the world's largest economy is heading toward a recession, and the fear is gripping global financial markets. "Shares went sky high into July on the back of better news on inflation, increasing optimism about lower interest rates ahead and optimism about IT and AI-related earnings," Mr Oliver, who manages $3 billion in investments, said. The US …

A few key words in Fed boss Jerome Powell's speech signals when interest rates are coming down
7 months, 4 weeks ago

A few key words in Fed boss Jerome Powell's speech signals when interest rates are coming down

Daily Mail  

The Federal Reserve has held interest rates steady, but hinted it is closer to cuts. Fed Chair Jerome Powell said an interest rate cut could be possible next month, and the central bank made notable changes to its policy statement, indicating that inflation is getting closer to its 2 percent target. The Federal Reserve has held interest rates steady, but …

Why the Reserve Bank of Australia should hold off on interest rate hikes in August
8 months ago

Why the Reserve Bank of Australia should hold off on interest rate hikes in August

ABC  

There's a curious thing about openness, communication and transparency. Because, despite recently showing a real reluctance to want to push interest rates even higher, she and her Reserve Bank of Australia colleagues have for the past two years made it abundantly clear that they were committed to hammering inflation into submission. Money markets right now have just a one-in-five chance …

Global news wrap: Monetary policies, CrowdStrike outage, taxing the super-rich
8 months ago

Global news wrap: Monetary policies, CrowdStrike outage, taxing the super-rich

Live Mint  

Every month, Plain Facts brings you an update on key global data to thread together all the developments worth paying attention to. This month we track upcoming monetary policy announcements, what's causing the US market to move in a hot political climate, and the impact of the CrowdStrike outage. The US Federal Reserve, the benchmark for monetary policies worldwide, is …

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control
8 months, 1 week ago

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control

Associated Press  

FRANKFURT, Germany — The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again. She added that “obviously, given the size of the US financial markets in particular, the developments taking place in the United …

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%
8 months, 1 week ago

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Home buyers and businesses waiting …

'Risk of major financial fallout' as IMF sounds the alarm on persistent global inflation
8 months, 1 week ago

'Risk of major financial fallout' as IMF sounds the alarm on persistent global inflation

ABC  

The message seems to have been lost in all the noise. The biggest risk is that higher American interest rates "disrupt capital flows and impede planned monetary policy easing, which could adversely impact growth". Even worse, "persistently high interest rates could raise borrowing costs further and affect financial stability if fiscal improvements do not offset higher real rates amid lower …

Interest rate cuts under threat from ‘stubbornly high inflation’
8 months, 2 weeks ago

Interest rate cuts under threat from ‘stubbornly high inflation’

The Telegraph  

Interest rate cuts by the Bank of England and Federal Reserve are at risk of being derailed by stubbornly high inflation, the International Monetary Fund has warned. Pierre Olivier Gourinchas, the IMF’s chief economist, warned that underlying inflation remained “persistent”, with global growth likely to suffer if the US keeps borrowing costs at their highest level since 2001. Speaking at …

U.S. Inflation Cools Again, Potentially Paving Way For Fed To Cut Interest Rates Soon
8 months, 2 weeks ago

U.S. Inflation Cools Again, Potentially Paving Way For Fed To Cut Interest Rates Soon

Huff Post  

LOADING ERROR LOADING WASHINGTON — Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve. In the second half of 2023, core inflation cooled steadily, raising expectations that the Fed would cut …

US inflation cools again, Fed may cut interest rates soon
8 months, 2 weeks ago

US inflation cools again, Fed may cut interest rates soon

Associated Press  

WASHINGTON — Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve. “This confirms that there is very little chance of inflation re-accelerating and that it’s time for some rate cuts from …

Powell stresses message that US job market is cooling, a possible signal of coming rate cut
8 months, 2 weeks ago

Powell stresses message that US job market is cooling, a possible signal of coming rate cut

Associated Press  

WASHINGTON — Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it’s likely to begin cutting interest rates soon. “We also have an employment mandate.” On Tuesday, when Powell addressed the Senate Banking Committee, he suggested that …

Interest rates should stay on hold this summer, says Bank of England official
8 months, 3 weeks ago

Interest rates should stay on hold this summer, says Bank of England official

The Telegraph  

Some economists have been calling on the Bank to cut rates for months, although Bank forecasts suggest price rises are likely to pick up in the second half of this year. “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably.” He voted to leave interest rates on hold at the Bank of …

Fed Chair Jerome Powell: US inflation is cooling again, though it isn't yet time to cut rates
8 months, 3 weeks ago

Fed Chair Jerome Powell: US inflation is cooling again, though it isn't yet time to cut rates

Associated Press  

WASHINGTON — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high inflation reports at the start of 2024, Powell said, the data for April and May “do suggest …

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