4.19.24
Federal Reserve Chair Jerome Powell suggested on Tuesday that strong first-quarter inflation figures have prompted uncertainty regarding potential interest rate cuts beginning this summer. Powell stressed the necessity for additional data to bolster confidence in a rate cut, implying a longer timeframe than initially expected. Nevertheless, Powell reiterated the Fed’s preparedness to lower rates in response to a notable economic slowdown. Market reactions varied, with minor decreases in the S&P 500 and higher Treasury yields.