Hopes of a looming interest cut rate from the Federal Reserve are continuing to fade away as hot economic data keeps bringing disappointing results for the cent
FILE - Federal Reserve chair Jerome Powell speaks during a news conference the Federal Reserve in Washington, March 20, 2024. ral bank’s hopes to see inflation continuing to cool on its path back toward 2%.
Friday’s PCE report is expected to further reduce the chances of a Fed rate cut this summer, but isn’t indicating prices are going out of control again. Federal Open Markets Committee members are facing a difficult balance when it comes to when they start cutting interest rates. If they move too soon, inflation could accelerate out of control again, while waiting too long risks sending the economy into a tailspin.
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