— The Coastal Journal (@1CoastalJournal) May 14, 2024
Should we make and sell?
“With inflation, Americans are just prone to suffer more”
With powells face and a #EndTheFed t.co/WiYe8X9kkP
— The Coastal Journal (@1CoastalJournal) May 14, 2024
FED TALK: POWELL
•Inflation core inflation today at 2.8%
•need to be patient with rates at current level
•confidence on inflation returning to 2% not as high with latest inflation data pic.twitter.com/57oVOppwNq
— The Coastal Journal (@1CoastalJournal) May 14, 2024
Jerome Powell is spoiling the party.
- Fed Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected, likely keeping interest rates elevated for an extended period.
- “We did not expect this to be a smooth road. But these [inflation readings] were higher than I think anybody expected,” Powell said in Amsterdam. “What that has told us is that we’ll need to be patient and let restrictive policy do its work.”
- Tuesday brought a fresh round of discouraging inflation data, when the producer price index rose a higher-than-expected 0.5% in April.
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