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September 01, 2020 1:20pm
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Powell says Fed needs more inflation evidence before cutting interest rates

Federal Reserve Chair Jerome Powell reiterated that policymakers need to see more evidence that inflation has subsided before they cut interest rates.

Federal Reserve Chair Jerome Powell on Wednesday stressed the need for more evidence that inflation is subsiding before policymakers move to cut interest rates. 

"On inflation, it is too soon to say whether the recent readings represent more than just a bump," Powell said in prepared remarks ahead of a question-and-answer session at Stanford University. "We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2 percent."

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