Federal Reserve Chair Powell Dismisses Rate Cut Talks as ‘Premature’ and Suggests Potential for More Hikes
Federal Reserve Chairman Jerome Powell on Friday downplayed aggressive interest rate cuts, hailing their premature declarations as confounding, adding it’s too soon to speculate when policy might ease. Powell in his speech said that the current inflation levels are still “well above” the central bank’s goal, refuting any notion of a sufficiently restrictive stance achieved. …