The dollar was broadly steady on Wednesday, keeping the yen rooted near 34-year lows after comments from Federal Reserve officials, including Chair Jerome Powell, suggested U.S. interest rates are likely to stay higher for longer.
The recent data have clearly not given us greater confidence and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during an event sponsored by the Wilson Center.
Federal Reserve Chair Jerome Powell on Tuesday said that it is taking longer than previously expected for inflation to reach the central bank's 2% target.
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -Top U.S. central bank officials including Federal Reserve Chair Jerome Powell backed away on Tuesday from providing any guidance on when interest rates may be cut,
Federal Reserve Chair Jerome Powell said firm inflation during the first quarter had introduced new uncertainty over when and whether the central bank would be able to lower interest rates later this year.
The US economy’s enduring strength and a “lack of progress” on inflation means the central bank likely won’t cut interest rates at its upcoming policy meeting just two weeks away, Federal Reserve Chair Jerome Powell said Tuesday.
Federal Reserve chair Jerome Powell has said there’s been an unexpected “lack of further progress” on tackling the record-high inflation rates that hit the US in recent years, putting the brakes on expected rate cuts from the central bank.
US stocks wavered Tuesday after Federal Reserve Chair Jerome Powell said a “lack of further progress” on inflation means the central bank likely won’t cut interest rates at its upcoming policy meeting just two weeks away,
Why it matters The Fed may keep rates at the current, two-decades high level for longer as it assesses incoming economic data, Powell said in his first public remarks since last week's hotter-than-expected inflation report.
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year because “recent data have clearly not given us greater confidence” that price increases are under control.
"The labor market remains very strong" as the unemployment rate remains under 4% for the longest period in more than half a century, Federal Reserve Chair Jerome Powell said on Tuesday. Even with this strength the labor market has been moving into better balance,
Federal Reserve Chairman Jerome Powell's comments on Tuesday that firm inflation questioned whether rates will be cut without an unexpected economic slowdown are likely to lift the dollar in the near term,
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year because "recent data have cl