Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
- Federal Reserve Chair Jerome Powell stated the bank won't wait for inflation to hit 2% before cutting interest rates.
- Powell explained at the Economic Club of Washington D.C. That central bank policy has delays, so waiting could result in overshooting the target.
- Powell highlighted the need for 'greater confidence' in inflation return to 2% rather than waiting for it to hit precisely 2%.
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Leaning Left11Leaning Right5Center18Last UpdatedBias Distribution53% Center