Powell Signals Potential Rate Cuts Pending Inflation Control Federal Reserve Chair Jerome Powell stated on Wednesday that while the Fed anticipates reducing its key interest rate within the year, it seeks further proof of inflation steadily reverting to its 2% goal before taking action. His remarks to a House committee were consistent with his previous comments at a January 31 news conference. Nevertheless, subsequent reports have indicated a rise in inflation from December to January, alongside a boost in employment, signaling that the economy continues to be robust. Despite the recent inflationary uptick, Powell remained unperturbed, highlighting that, according to the Fed’s preferred measure, inflation has significantly moderated over the last year, even though it still surpasses the Fed’s target. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Cryptocurrency Market Climbs Over $2 Trillion, Led by Bitcoin READ MORE Japan's ¥9.8 Trillion Currency Intervention Defended by Finance Minister READ MORE Gold and Bitcoin: Vital Challengers to Fiat Currencies READ MORE Inflation Fears Spark Rally in Gold and Oil, Casting Doubt on Fed's Strategy READ MORE Gold Retreats from Recent Highs with Upcoming U.S. Inflation Reports in Focus READ MORE Add a Comment Cancel replyYour email address will not be published.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