From Investing.com: 2024-03-29 14:45:31

Federal Reserve Chair Jerome Powell stated that the latest U.S. inflation data is in line with expectations, indicating no immediate need for interest rate cuts. The PCE price index for February increased at a 2.5% annual rate, showing less of a slowdown than last year. Despite this, Powell reaffirmed the Fed’s commitment to maintaining a strong economy before considering any rate cuts. While economists anticipate continued strong payroll growth, they expect annual wage growth to hit its slowest pace since June 2021. Powell emphasized the importance of carefully monitoring inflation before making any decisions to reduce rates.



Read more at Investing.com: New US inflation data ‘along the lines’ of what Fed wants, Powell says By Reuters