Powell backs potential rate cuts in 2024, but says inflation fight "not assured"






Federal Reserve Chair Jerome Powell emphasized that while the central bank's efforts to curb inflation are ongoing, immediate interest rate cuts are not guaranteed. Powell stated that the Federal Open Market Committee needs more confidence in sustained progress toward the 2% inflation target before considering rate reductions from their current high levels. He highlighted the delicate balance policymakers face in managing inflation without jeopardizing economic growth, aiming for a "soft landing." Powell suggested that the tightening cycle may be nearing its peak and hinted at potential policy adjustments later in the year if economic conditions permit.

View Other Insights