The “danger of moving too soon is that the job’s not quite done, and that the really good readings we’ve had for the last six months somehow turn out not to be a true indicator of where inflation’s heading,” Powell said in the interview with CBS’s Scott Pelley.
Federal Reserve Chair Jerome Powell said policymakers will likely wait beyond March to cut interest rates as he sought to explain the central bank’s rationale for eventual reductions to a broad public audience.
In an interview conducted Thursday with CBS’s 60 Minutes that aired Sunday evening, Powell reiterated that Fed officials want to see more economic data to assure that inflation is on a sustainable path to their 2% goal, according to a transcript provided by CBS.
