The U.S. Federal Reserve has decided to keep interest rates steady, indicating a leaning towards eventual rate cuts but expressing concern about recent disappointing inflation readings. Fed Chair Jerome Powell mentioned that while inflation had been expected to decline towards 2%, recent data suggest that this decline may take longer than anticipated.
Fed leaves rates unchanged, flags ‘lack of further progress’ on inflation
May 1, 2024
Article from Reuters by Howard Schneider and Ann Saphir
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