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...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...The head of the New York Federal Reserve said he still expects inflation to drift towards the US central bank’s 2 per cent goal, despite some bumpy recent readings....
...Federal Reserve chair Jay Powell has acknowledged it will likely take “longer than expected” for inflation to return to the US central bank’s 2 per cent goal and cut interest rates....
...The flipside to higher interest rates is people also want more for their savings....
...A senior European Central Bank executive has said publishing the interest rate forecasts of its policymakers — similar to the US Federal Reserve’s so-called “dot plot” — could help to address shortfalls...
...The IMF and the World Bank kick off their joint spring meeting on Monday in Washington....
...Even so, some economists believe recent US data — notably on inflation — will force the central bank to be more cautious....
...s decision to keep the benchmark federal funds target between 5.25 per cent and 5.5 per cent was reached unanimously, according to a statement released from the US central bank after the meeting.Rate-setters...
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high....
...Some expect the Federal Open Market Committee to upgrade its 1.4 per cent GDP growth estimate for this year then too....
...Powell was speaking in Washington just hours after European Central Bank president Christine Lagarde signalled the central bank could begin lowering interest rates in June....
...US central bank officials still expect to be able to cut interest rates three times this year, despite the “persistence of high inflation” at the start of this year, according to minutes of the Federal Reserve...
...A top Federal Reserve official has said risks to the US central bank’s dual mandate of low inflation and full employment “are moving into better balance”, paving the way for rate cuts this year....
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...Loretta Mester, president of the Cleveland Federal Reserve and a voting member of the Federal Open Market Committee, revealed in a speech on Tuesday that she had raised her estimate of the longer-run federal...
...A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of interest rate cuts....
...Their forecasts will land at 2pm Eastern time today (6pm GMT), along with the bank’s latest decision on interest rates....
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Governments’ debt burdens have surged following high spending during the early stages of the pandemic and big rises in global borrowing costs as central banks have sought to tame the worst bout of inflation...
...The rate forecasts, published by US central bank on Wednesday, came as the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
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