The run of disappointing data showing stronger-than-expected inflation means the Federal Reserve will likely need more time than previously thought to be confident that inflation is on the path to 2%, Fed Chair Jerome Powell said Tuesday.
“The recent data have clearly not given us greater confidence, and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during an event held at The Wilson Center in Washington.
This is a developing story. Please check back for updates.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
