Powell still hopes to cut interest rates this year but cannot assure the direction of inflation:
will not cut interest rates until “inflation shows a clear trend down to 2%”.
"It may be appropriate" to cut rates in 2024.
MARKET DAILY
Market 03/06: Fed could cut interest rates in 2024 but needs more information on inflation
Summary of Fed Chairman Jerome Powell's testimony session. Employment report shows labor supply-demand gradually balancing back to pre-Covid levels.
0
