Fed's Powell says confidence that inflation will slow is 'not as high' as before
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Federal Reserve Chair Jerome Powell reiterated Tuesday that the central bank will be patient and wait for evidence that inflation is slowing before it cuts interest rates.
Speaking during a panel discussion in Amsterdam, Powell said that recent inflation figures – which have come in higher than expected since the start of the year – suggest it will take longer than previously thought to attain the confidence needed to start loosening monetary policy.
"We did not expect this to be a smooth road, but these were higher than I...