From “bumps on the road” to “lack of progress” and greater uncertainty: Federal Reserve Chair Powell hardens his characterization of inflation. #economy #markets

Among the things to watch for today #FederalReserve Chair Powell’s remarks, including how he characterizes recent economic developments and their consequences for monetary policy; and The release of the #IMF’s World Economic Outlook, including how/whether it extrapolates…

POWELL SAID FIRM INFLATION LAST QUARTER HAS INTRODUCED NEW UNCERTAINTY OVER WHEN AND WHETHER THE FED WILL BE ABLE TO LOWER RATES LATER THIS YEAR

POWELL: IF HIGHER INFLATION PERSISTS FED CAN MAINTAIN CURRENT RATE AS LONG AS NEEDED