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Powell: More Good Inflation Data Would Boost Fed Confidence
Posted
July 11, 2024
Views
1,817
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July 11, 2024
1,817
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0:56Now PlayingFederal Reserve Chair Jerome #Powell said “more good data” would strengthen confidence that #inflation is moving down toward the US central bank’s 2% target, and recent readings point to “modest further progress” on prices.
In testimony prepared for a #Senate hearing Tuesday, Powell warned that lowering interest rates too little or too late could put the economy and the labor market at risk.
“Elevated inflation is not the only risk we face,” he told lawmakers on the first of two days of congressional testimony. “Reducing policy restraint too late or too little could unduly weaken economic activity and employment.”
The #Fed chair also said cutting rates too soon or too much could stall or reverse inflation progress.
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