United States Federal Reserve Chair Jerome Powell commented on Wednesday at a press conference that risks to inflation still remain "to the upside."
He explained that if one looks at the inflation data, "particularly the core data," there has not been "a lot of progress over the last year." The Fed chair underlined that he wants to see core PCE (personal consumption expenditures) inflation decelerating "decisively."
Powell reiterated that the central bank will continue to pay attention to the upcoming economic prints, adding that by the July meeting, there will be "three months' worth of data" available.
