The Fed may have pumped so much money into the economy that it's now taking way longer to cut rates
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US Federal Reserve Chair Jerome Powell has signaled a delay in expected interest rate cuts, citing the need for more time to be confident that the fight against inflation is working. Excess money, a result of pandemic-era policies, may be drained from the economy later this year. The Fed can maintain the current level of restriction if higher inflation persists. Lower interest rates encourage borrowing and spending, driving the economy. An analyst believes it will be difficult to achieve a soft landing for the US economy due to the scale of the COVID-19 stimulus and money supply. Money supply, consumer demand, supply chain snarls, and fiscal stimulus all contribute to inflation. The Fed's next policy meeting is scheduled for April 30 to May 1.

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https://www.businessinsider.com/fed-powell-pump-money-us-economy-delayed-cut-interest-rate-2024-4