Washington, DC CNN —The Federal Reserve is in no rush to cut interest rates, according to Fed Chair Jerome Powell’s written testimony submitted to congressional lawmakers, released Wednesday.
Recent economic data showed that price pressures persisted in January, leading investors to recalibrate their expectations for rate cuts this year.
Still, the timing and pace of rate cuts remains up in the air.
Too soon to cut rates?
In a recent interview with CNBC, Richmond Fed President Thomas Barkin said “we’ll see” if the Fed cuts rates in 2024.
Persons:
Jerome Powell’s, Powell’s, inflation’s, ”, José Torres, “ Young, there’s, Raphael Bostic, Thomas Barkin, “, “ I’m, Austan Goolsbee, we’re, Adriana Kugler
Organizations:
DC CNN, Federal, Fed, Financial, “, Interactive Brokers, CNN, Atlanta Fed, CNBC, Richmond Fed, Congress, Chicago Fed, ”, Stanford University
Locations:
Washington