Powell: Strong inflation data in the first quarter brings uncertainty to rate cuts
According to BlockBeats, on April 17, Fed Chairman Powell said: "Strong inflation in the first quarter has brought new uncertainty to whether and when the Fed will be able to cut interest rates later this year. If high inflation persists, the Fed can maintain the current interest rate as long as it is necessary."
Nick Timiraos, a Wall Street Journal reporter known as the "Federal Reserve mouthpiece", said that Powell's latest remarks indicate that the Fed's outlook has shifted significantly after inflation data was stronger than expected for the third consecutive month, which seems to have dashed the Fed's hopes of a preemptive rate cut.
Futures markets show that market expectations for the Fed's rate cuts have further declined after Powell's comments on inflation, and investors are now betting that there will be only one or two rate cuts this year, with expectations of around 40 basis points.
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