Fed Chair’s Confidence in Slowing Inflation Is ‘Not as High’ as Before
By Jerome H. Powell, the Federal Reserve chair, reiterated that policymakers were poised to hold interest rates steady at a high level as they waited for evidence that inflation is slowing further.Fed officials entered 2024 expecting to make interest rate cuts, having lifted borrowing costs sharply to a more than two-decade high of 5.3 percent…