Fed Powell on the slow decline in inflation:
- Factors contributing to inflation decline are happening but much later and all taking longer than we had hoped
- Service sector much less responsive to rate hikes and cost of capital
- We never use the word pause and wouldn’t use that here today. We agreed to maintain that rate at that meeting
- A big majority believes in raising rates twice this year
This article was written by Greg Michalowski at www.forexlive.com. Source