New US inflation data 'along the lines' of what Fed wants, Powell says
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Federal Reserve Chair Jerome Powell stated that the latest US inflation data is 'along the lines' of what the Fed wants. The personal consumption expenditures (PCE) price index data for February, released on Friday, showed an increase at a 2.5% annual rate, slightly higher than expected. Powell stated that the data is in line with the Fed's baseline outlook and does not warrant an overreaction. He also emphasized that the economy is strong and there is no need to rush into interest rate cuts. Powell will have another opportunity to discuss the monetary policy outlook in a public appearance next week.

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https://www.investing.com/news/economy/powell-to-update-views-on-policy-as-inflation-remains-sticky-3358046