⭕️ Powell's comments on Tuesday were a departure from just a month ago, when Fed officials stuck to their expectations of three interest rate cuts this year.
⭕️ Speaking during a panel discussion at the Wilson Center in Washington, Powell said that although inflation pressure declined last year, it has not decreased enough in recent months.
⭕️Powell said on Tuesday: “Clearly, the latest data has not given us greater confidence and instead indicates that it will likely take longer than expected to achieve that confidence.”
⭕️This means that the Fed is not confident at this point that inflation is heading to the target level of 2% in the long term.
⭕️⭕️ All this means a delay in interest cuts; This is not in our interest
