Fed Chair Powell Unsure Inflation Is Reaccelerating

Jerome Powell, the head of the Federal Reserve, is uncertain if the back-to-back, hotter-than-expected prices readings are more than just a bump in the road.
In prepared notes delivered on April 1 at Stanford University. The central banks key reiterated that lowering interest rates would not be appropriate for economic policymakers.
” On prices, it is too soon to say whether the new analyses represent more than just a bump”, Mr. Powell stated. We do not anticipate that lowering our policy rate will be suitable until we are more assured that the price will stabilize and fall to 2 percent.
Mr. Powell noted that the Federal Open Market Committee, which makes policy recommendations, maintains the longitude of being calm and allowing “incoming data to guide our decisions on plan.”

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