Federal Reserve Could Ease Policy Before Inflation Reaches 2 Percent: Jerome Powell

Published on July 10, 2024

The U.S. central bank will not wait until inflation returns to 2 percent before easing monetary policy, Federal Reserve Chair Jerome Powell told lawmakers in his second day of testimony on Capitol Hill on July 10. Appearing before the House Financial Services Committee, Mr. Powell confirmed that policymakers do not have a “particular number” inflation needs to touch before cutting interest rates. “We’ve said that you don’t want to wait until inflation gets all the way down to 2 percent because inflation has a certain momentum,” Mr. Powell said. “You wouldn’t wait that long. If you waited that long, you probably waited too long, because inflation will be moving downward.”...

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