Fed Inflation Progress: Powell Highlights Optimistic Outlook Amid Deliberations
Federal Reserve Chair Jerome Powell noted significant progress in controlling inflation based on second-quarter readings. Speaking at the Economic Club of Washington, he emphasized better inflation readings but cautioned against potential economic slowdowns. Investors largely anticipate rate cuts in September, based on recent data and upcoming policy statements.
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- Country:
- United States
Federal Reserve Chair Jerome Powell announced on Monday that three inflation readings in the last quarter have shown substantial progress towards the Fed's target rate.
"In the second quarter, actually, we did make some more progress," Powell stated at the Economic Club of Washington. He hinted that the latest data would influence discussions at the Fed's July 30-31 meeting.
Fed officials, including Christopher Waller and Adriana Kugler, are scheduled to speak this week, potentially shedding more light on the central bank's position. As inflation nears the 2% target, policymakers worry about balancing growth and unemployment. Investors are increasingly betting on September rate cuts, depending on updates in July's policy statement.
(With inputs from agencies.)
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