Fed Signals Delaying Rate Cuts to Combat Inflation

Bets on Fed rate cuts have tapered off as the US central bank’s policymakers show hawkish signals following the release of the country’s latest economic data.

Jessica Gabriela Soehandoko

21 Apr 2024 - 18.50
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Fed Signals Delaying Rate Cuts to Combat Inflation

Fed chair Jerome Powell. - Photo Repro

Bisnis, JAKARTA — Bets on Fed rate cuts have tapered off as the US central bank’s policymakers show hawkish signals following the release of the country’s latest economic data.

Fed chair Jerome Powell has hinted of a delayed rate cuts with the US still recording high inflation figures. Market traders also forecast that rate cuts will only occur once or twice this year, a sharp turn from earlier estimates of three to six rate cuts this year.

US inflation has become one of the main reasons for the Fed to delay rate cuts after the consumer price index (CPI) rose by 3.5 percent (year-on-year/YoY) in March compared to 3.2 percent in February.

"The recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said in a forum in Washington on Tuesday.

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