Powell speech: PCE inflation in line with expectations, no hurry to cut rates
|Federal Reserve Chair Jerome Powell participates in a discussion at the Macroeconomics and Monetary Policy Conference, in San Francisco.
Key quotes:
My first thought on PCE was it came in line with expectations.
February reading is definitely more along lines of what we want to see.
Reducing rates too soon would be very disruptive.
Waiting too long could mean unneeded damage to economy and the labour market.
The economy is strong, no hurry to cut rates.
Make the right decisions is more important, we can handle whatever case.
We want to be more confident before we cut rates.
Market reaction
The US Dollar ticked higher as an immediate reaction to his words, although the action is being limited by the Easter Holiday.
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