Fed needs 'more good data' to feel comfortable about rate cuts: Powell

Fed needs 'more good data' to feel comfortable about rate cuts: Powell
https://finance.yahoo.com/news/fed-needs-more-good-data-to-feel-comfortable-about-rate-cuts-powell-140022637.html

Summary

Certainly! Here are the key takeaways from the article on Federal Reserve Chair Jay Powell's testimony before US lawmakers:

• Inflation Outlook: Powell is encouraged by cooler inflation and believes more "good data" would strengthen confidence that inflation is moving sustainably toward 2%[^1^][1].
• Labor Market: He noted that labor market conditions have cooled compared to two years ago, indicating a slowdown[^2^][2].
• Rate Cuts: Powell hinted that the environment for rate cuts is approaching.
• Fed Independence: He reinforced the importance of the Fed's separation from politics[^3^][3].

Please note that the next inflation reading is due out Thursday[^4^][4]. (Source: AP)