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  • Reuters

    Fed's Powell: Recent price data bolstering confidence inflation moderating

    By Reuters,

    6 hours ago
    https://img.particlenews.com/image.php?url=0YkgGo_0ujOwxdH00

    NEW YORK (Reuters) - Federal Reserve Chair Jerome Powell said recent inflation data is increasing the central bank's confidence that inflation pressures are moving back to the 2% target.

    After inflation data moderated in the second quarter, Fed officials have "gained greater confidence" price pressures are moderating in way that will open the door to a rate cut, Powell said in a press conference following the Fed's latest policy meeting where they kept interest rates steady.

    (Reporting by Michael S. Derby; Editing by Chris Reese)

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