Odaily Planet Daily News: Federal Reserve Chairman Powell said in a speech today that it looks like it will take longer to be confident about inflation, and it may be necessary to maintain the current policy rate for a longer period of time. The Fed needs to be patient and wait for more evidence that high interest rates are curbing inflation, thereby doubling the need to keep interest rates high for a longer period of time. Powell expects inflation to decline on a monthly basis, but first-quarter price data undermined his confidence. The lack of further progress in inflation in the United States in the first quarter is noteworthy. The Fed does not think that this is a smooth road to fighting inflation, but recent data is higher than anyone expected. This tells people that they need to be patient and let restrictive policies work. (Jinshi)