U.S. Federal Reserve Chairman Jerome Powell's reassuring message following the central bank’s monetary policy meeting may not calm frazzled U.S. stock and bond investors, as uncertainty over the path of inflation intensifies the focus on upcoming data.
Though Powell on Wednesday acknowledged a lack of recent progress in the Fed’s battle against rising consumer prices, he reiterated the view that interest rates are likely headed lower this year.
That was a relief for those worried the Fed could be eyeing more rate increases after three straight months of stronger-than-expected inflation.