The Federal Open Market Council statement said the committee “does
not expect it to be an appropriate time to cut bank interest rates until they
gain more confidence that inflation will continue to move towards 2%.
At a news
conference on Wednesday, Federal Reserve Chairman Jerome Powell noted that
recent inflation readings took a bearish direction. But he added that the
committee still needs “better and more data to have confidence that inflation
will take a downward turn.
Dr. Kamaran Qader Yaqub,
Financial Consultant at
Investment Spot company.
