Federal Reserve Chair Jerome Powell reiterated during his June press conference that policymakers “want to gain further confidence” on inflation before considering interest rate cuts, slightly dampening market enthusiasm fueled by a lower-than-expected inflation report released earlier Wednesday.
“So far this year, the data has not given us that greater confidence. The inflation data received earlier this year were higher than expected, though more recent monthly readings have eased somewhat,” Powell stated.
Powell welcomed today’s reading but warned that upcoming inflation data may be “good but not [as] great” as the last one, given unfavorable base effects from the second half of 2023 which are likely to affect annual readings.
Powell somehow cooled investor excitement over today’s reading: “That’s a step in the right direction. But one reading is only one reading.”
Read also: Fed Holds Rates Steady: Projections Show Fewer Rate Cuts, Higher Inflation Outlook
May Inflation Report Hasn’t Altered Fed’s New Inflation Outlook
Powell explained that Federal Open Market Committee (FOMC) members had the opportunity to update their inflation forecasts in the Summary of Economic Projections (SEP) following the …
Full story available on Benzinga.com
Federal Reserve Chair Jerome Powell reiterated during his June press conference that policymakers “want to gain further confidence” on inflation before considering interest rate cuts, slightly dampening market enthusiasm fueled by a lower-than-expected inflation report released earlier Wednesday.
“So far this year, the data has not given us that greater confidence. The inflation data received earlier this year were higher than expected, though more recent monthly readings have eased somewhat,” Powell stated.
Powell welcomed today’s reading but warned that upcoming inflation data may be “good but not [as] great” as the last one, given unfavorable base effects from the second half of 2023 which are likely to affect annual readings.
Powell somehow cooled investor excitement over today’s reading: “That’s a step in the right direction. But one reading is only one reading.”
Read also: Fed Holds Rates Steady: Projections Show Fewer Rate Cuts, Higher Inflation Outlook
May Inflation Report Hasn’t Altered Fed’s New Inflation Outlook
Powell explained that Federal Open Market Committee (FOMC) members had the opportunity to update their inflation forecasts in the Summary of Economic Projections (SEP) following the …
Full story available on Benzinga.com
Federal Reserve Chair Jerome Powell reiterated during his June press conference that policymakers “want to gain further confidence” on inflation before considering interest rate cuts, slightly dampening market enthusiasm fueled by a lower-than-expected inflation report released earlier Wednesday.
“So far this year, the data has not given us that greater confidence. The inflation data received earlier this year were higher than expected, though more recent monthly readings have eased somewhat,” Powell stated.
Powell welcomed today’s reading but warned that upcoming inflation data may be “good but not [as] great” as the last one, given unfavorable base effects from the second half of 2023 which are likely to affect annual readings.
Powell somehow cooled investor excitement over today’s reading: “That’s a step in the right direction. But one reading is only one reading.”
Read also: Fed Holds Rates Steady: Projections Show Fewer Rate Cuts, Higher Inflation Outlook
May Inflation Report Hasn’t Altered Fed’s New Inflation Outlook
Powell explained that Federal Open Market Committee (FOMC) members had the opportunity to update their inflation forecasts in the Summary of Economic Projections (SEP) following the …Full story available on Benzinga.com Read MoreEquities, Expert Ideas, GLD, Inflation, interest rate, Jerome Powell, Macro Economic Events, Macro Notification, QQQ, SPY, Stories That Matter, Bonds, Broad U.S. Equity ETFs, Treasuries, Econ #s, Top Stories, Economics, ETFs, GLD, US78463V1070, SPY, US78462F1030, QQQ, US73935A1043, Equities, Macro Economic Events, Macro Notification, Broad U.S. Equity ETFs, Bonds, Treasuries, Econ #s, Top Stories, Economics, ETFs, Benzinga Macro Economic Events
