Tom Williams | CQ-Roll Call, Inc. | Getty ImagesFederal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when.
Rates likely at peakIn total, the speech broke no new ground on monetary policy or the Fed's economic outlook.
"We believe that our policy rate is likely at its peak for this tightening cycle.
He noted again that lowering rates too quickly risks losing the battle against inflation and likely having to raise rates further, while waiting too long poses danger to economic growth.
That's slightly more aggressive than the Fed's outlook in December for three cuts.
Persons:
Jerome Powell, Tom Williams, congressionally, Powell
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Financial, CQ, Inc, Getty, Capitol, Federal
Locations:
Rayburn