Top Federal Reserve officials — including Chair Jerome Powell — are increasingly pointing to an obscure price gauge as a reason to maintain confidence in their outlook: “market-based” inflation.
Top Fed Official Backs New Rate Cuts
Federal Reserve Governor Christopher Waller said he believes inflation will continue to cool toward the central bank’s 2% target, prompting his support for additional interest-rate cuts this year.
Inflation should continue falling in 2025 and allow the U.S. Federal Reserve to further reduce interest rates, though at an uncertain pace, Federal Reserve Governor Christopher Waller said on Wednesday.
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Federal Reserve Governor Christopher Waller doubled down on more rate cuts and cooling inflation following higher price projections from the central bank and growing expectations among investors
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Bitcoin is down Wednesday, but didn't move much after the Federal Reserve hinted it would be slow to cut interest rates this year.
These are today's mortgage and refinance rates. Mortgage rates are flat, but incoming job market and inflation data could push them up or down.
Federal Reserve Bank of Atlanta President Raphael Bostic said officials should be cautious with policy decisions given uneven progress on lowering inflation and err on the side of keeping interest rates elevated to achieve their price stability goals.
U.S. services activity increased more than expected last month as the Federal Reserve trimmed borrowing costs again and firms prepared for a new administration in Washington.
Investors are so worried about inflation returning that the ISM services index's price reading is sending shock waves through the market.