Fed Chair Jay Powell and other Fed officials struck a more hawkish stance this past week, setting off a new debate across Wall Street about how the rest of...
For months, Federal Reserve Chair Jay Powell offered assurances about rate cuts in 2024, arguing that hotter-than-expected inflation reports were all part of the "bumpy" road to the Fed’s goal.
Thus Blake Gwinn, the head of US rates strategy at RBC Capital Markets, now expects one cut in December after reducing his expectations from three to just one in 2024. Another official who pulled back expectations for the timing of rate cuts this week was Cleveland Fed president Loretta Mester. But this past week Powell said he expected the March reading of PCE will be little changed from February. And the three- and six-month readings will be above that level, he said.Powell won’t be able to comment on the figures this Friday because the Fed will be in its blackout period leading up to its next policy meeting on April 30-May 1.
But he said, "We still think there's going to be enough progress in inflation by the time you get to that June meeting that there'll be enough evidence that the Fed is willing to start that easing cycle."Trump was forced to listen silently as potential jurors offered their unvarnished assessments of him
Jay Powell Federal Reserve Austan Goolsbee San Francisco Fed President Mary Daly Inflation Data Rate Cuts
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