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Powell likely to signal that lower inflation is needed before Fed would cut rates

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Powell likely to signal that lower inflation is needed before Fed would cut rates
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After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year.

<p>WASHINGTON — After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year.

</p><p>As recently as the Fed's last meeting March 20, the policymakers themselves had projected three rate reductions in 2024.

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