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Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protestAMSTERDAM - Federal Reserve Chair Jerome Powell said he expects U.S. inflation to continue declining through 2024 as it did last year, though his confidence in that has fallen after prices rose more quickly than expected through the first quarter.
"I expect that inflation will move back down ... on a monthly basis to levels that were more like the lower readings that we were having last year," Powell said at a banking event in Amsterdam."I would say my confidence in that is not as high as it was.
"I don't think that it is likely based on the data we have that the next move that we make will be a rate hike," Powell said."It is more likely ... we hold the policy rate where it is."Powell spoke shortly after new data showed producer prices in April rose more quickly than expected, a possible sign of pressure building on the prices charged to consumers.
But Powell said he took the data as"quite mixed," noting that input prices for prior months were revised lower. It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home. Our 100 journalists strive to inform and improve our East Coast communities by delivering impartial, high-impact, local journalism that provokes thought and action. Please consider joining us in this mission by becoming a member of the SaltWire Network and helping to make our communities better.
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