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Powell signals Fed's focus is back on inflation

December 20, 2024

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Financial Express Mumbai

FEDERAL RESERVE OFFICIALS capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore.

- CRAIG TORRES

Chair Jerome Powell put it plainly: The central bank's year-end inflation projection has "kind of fallen apart."

Officials now see it taking much longer for inflation to reach their 2% target, which they have missed for nearly four years. As a result, they dialed back expectations for rate cuts next year, and Powell made clear that any adjustments will hinge on further progress in cooling price increases.

المزيد من القصص من Financial Express Mumbai

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