Photo: Jerome Powell, chairman of the U.S. Federal Reserve, speaks during Stanford's 2024 Business, Government, and Society forum in Stanford, California, on April 3, 2024. Photographer: Loren Elliott/Bloomberg Jerome Powell, chairman of the U.S. Federal Reserve, speaks during Stanford's 2024 Business, Government, and Society forum in Stanford, California, on April 3, 2024. Photographer: Loren Elliott/Bloomberg

Federal Reserve Chair Jerome Powell signaled policymakers will wait for clearer signs of lower inflation before cutting interest rates, even though a recent bump in prices didn't alter their broader trajectory. Powell said recent inflation figures—though higher than expected—do not "materially change" the overall picture. He reiterated his expectation that it will likely be appropriate to begin lowering rates "at some point this year."

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