Global Economic Report

Rate Cuts in 2024 Postponed

In the April Macro Tides I reviewed previous statements Chair Powell had made in speeches and during his post FOMC meeting press conferences and highlighted the emphasis he placed on the importance of confidence. “In speeches, testimony before Congress, and prior press conferences, Chair Powell has emphasized the need for confidence that inflation will come down to 2% over time. In his statement prior to the March 20 press conference, and in response to reporters’ questions, Chair Powell stressed that members of the FOMC needed to have more...

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