Federal Reserve Chair Jerome Powell said Thursday that inflation remains 'too high' and that lower economic growth may be required for prices to cool.
Federal Reserve Chair Jerome Powell on Thursday lauded recent declines in inflation but warned that consumer prices remain "too high" and a return to pre-pandemic levels may require lower-economic growth.
"Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal," Powell said. "While the path is likely to be bumpy and take some time, my colleagues and I are united in our commitment to bringing inflation down sustainably to 2 percent." This is a developing story. Please check back for updates.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold awaits Fed Powell speech as Middle East tensions keep safe-haven demand intactGold price (XAU/USD) faced a nominal sell-off after registering a fresh two-month high as investors shifted focus to the speech from Federal Reserve (
Read more »
NZD/USD Price Analysis: Extends downside to near 0.5800 ahead of Fed Powell’s speechThe NZD/USD pair extends its two-day losing spell as investors turn cautious ahead of the speech from Federal Reserve (Fed) Chair Jerome Powell. Jerom
Read more »
10-year Treasury reaches fresh multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »
10-year Treasury reaches fresh multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »