- The Federal Reserve (Fed) emphasized that progress on inflation stagnated and that they need more confidence to start cutting.
- During the press conference, Jerome Powell acknowledged significant progress toward the Fed's dual goals, but that inflation is still above target, with further progress uncertain.
- He also presented different case scenarios where he basically stated that if data continues coming strong, they will hold their monetary policy for longer. If data gives the bank more confidence, they will start cutting.
- However, the basically took of the table the posibility of a rate cut.
- Currently, the likelihood of a rate cut by the Fed in June and July is low while those odd for the September meeting dipped below 55%.
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