Interest Rates Unchanged as Fed Chief Powell Seeks Evidence on Inflation Progress
The Federal Reserve Chair made a statement today in Sintra, Portugal, expressing caution regarding the decision to adjust interest rates. Chair Jerome Powell highlighted progress in combating inflation but emphasized the need for further evidence before considering rate reductions. Powell discussed recent inflation data from April and May, noting a decline in price pressures within the economy. While policymakers left interest rates unchanged in their most recent meeting, there remains a possibility of rate cuts …