United States Federal Reserve Chair Jerome Powell stressed on Tuesday the central bank does not see inflation going back to the ideal 2% target during the remaining part of 2024 or in 2025.
Speaking in Portugal alongside European Central Bank (ECB) President Christine Lagarde, Powell noted the reduction of the prices will likely happen at the end of 2025 and more certainly in 2026.
Answering if an interest rate cut could be expected in September, he said he stands in not giving any specific dates, as the Fed needs more confidence before taking the step to avoid damaging the "work done bringing inflation down" or the "recovery and the expansion."
