NEW YORK –
US Federal Reserve Chairman Jerome Powell’s reassuring message after the central bank’s monetary policy meeting may not soothe frazzled US stock and bond investors, as uncertainty over the path of inflation puts focus on upcoming data strengthens.
While Powell acknowledged on Wednesday a lack of recent progress in the Fed’s fight against rising consumer prices, he reiterated the view that rates are likely to fall this year.
That came as a relief to those worried that the Fed would expect more rate hikes after three straight months of stronger-than-expected inflation.
