Jerome Powell Rate Cuts. Central bank chief jerome powell said the historic tightening of monetary policy is likely. Federal reserve chair jerome powell said the central bank isn't in a rush to cut interest rates even though inflation is getting closer to its 2% target.
As gratifying as it is that inflation has begun to slow, the central bank is nowhere near. Washington (ap) โ federal reserve officials will likely reduce their benchmark interest rate later this year, chair jerome powell said wednesday, despite recent reports.