Jerome Powell: Rate cuts likely as US inflation is on track to meet target

‘Inflation moving down’

clock • 2 min read

Fed chair Jerome Powell has said US inflation is on course to meet the 2% target, paving the way for rate cuts this year.

In a speech at Stanford University on Wednesday (3 April), Powell addressed the rise in consumer price inflation from 3.1% in January to 3.2% in February, saying it was too soon to tell whether the February figures were "more than just a bump". Fed officials 'highly attentive' to inflation despite recent progress He explained that February's data would not "materially change the overall picture", which he said is one of "solid growth, a strong but rebalancing labour market, and inflation moving down to 2% on a sometimes bumpy path". "We do not expect that it will be appropriate to ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Bank of England commits to economic forecasting overhaul following Bernanke review

Bank of England commits to economic forecasting overhaul following Bernanke review

'Substantial' upgrade programme

Valeria Martinez
clock 12 April 2024 • 2 min read
Ben Bernanke urges Bank of England to upgrade 'out of date' forecasting infrastructure

Ben Bernanke urges Bank of England to upgrade 'out of date' forecasting infrastructure

Publication of ‘alternative scenarios’

Valeria Martinez
clock 12 April 2024 • 3 min read
IMF managing director warns central banks to 'resist' calls for early rate cuts

IMF managing director warns central banks to 'resist' calls for early rate cuts

Banks on ‘final stretch’ of inflation battle

Eve Maddock-Jones
clock 12 April 2024 • 2 min read
Trustpilot