Powell Dials Back Expectations on Rate Cuts Firm inflation during the first quarter has called into question whether the Federal Reserve will be able to lower interest rates this year without signs of an unexpected economic slowdown, Chair Jerome Powell said Tuesday. His remarks indicated a clear shift in the Fed’s outlook following a third consecutive month of stronger-than-anticipated inflation readings, which derailed hopes that the central bank might be able to deliver pre-emptive rate cuts this summer. Officials had previously said they were looking for greater confidence that inflation was returning to their target and were optimistic another month or two of data might meet that standard. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Central Banks Warned to Stand Firm Against Inflation READ MORE U.S. job growth totaled 275,000 in February but unemployment rate rose to 3.9% READ MORE Risk of a global recession is minimal, IMF economist says — would take ‘a lot to derail’ READ MORE Gold Price Hovers at Record Peaks: Eyes Set on Fed's Powell for Rate Cut Hints READ MORE BRICS Nations' Gold Rush: Safeguarding Economies Against US Recession Fears READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment