Fed Chief Not Ready to Lower Interest Rate Until Inflation Is Under Control
US central bank will not cut interest rates until there is greater confidence inflation is heading toward 2 percent target.
Federal Reserve Bank Chair Jerome Powell speaks during the Stanford Business, Government, and Society Forum at Stanford University in Stanford, Calif., on April 3, 2024. Justin Sullivan/Getty Images
Federal Reserve Chair Jerome Powell is unsure if the back-to-back, hotter-than-expected inflation readings are something more than just a bump in the road.
In prepared remarks at Stanford University on April 3, the central bank chief reiterated that it would be inappropriate for monetary policymakers to cut interest rates.
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
