Inflation Has Eased, But Is Still Elevated, Powell Says

Fed Chair Jerome Powell said inflation has eased but remains 'somewhat elevated' relative to the Fed's 2% longer-run goal. The comment signals continued Fed vigilance and suggests policymakers may remain data-dependent and cautious on cutting rates, limiting prospects for near-term easing.

Analysis

Fed Chair Jerome Powell said inflation has eased but remains 'somewhat elevated' relative to the Fed's 2% longer-run goal. The comment signals continued Fed vigilance and suggests policymakers may remain data-dependent and cautious on cutting rates, limiting prospects for near-term easing.