Fed Chair Powell (Q&A) says if progress on inflation is not seen, we will not see a rate cut
- Looking through oil prices depends on inflation expectations and broader context of five years above target. Won't approach the question of looking through lightly.
Context
Fed Chair Powell's remarks indicate a clear commitment to maintaining current rates unless inflation shows substantial progress. This dovish stance may have implications for market expectations regarding future rate cuts, which could influence cross-asset behavior, particularly in fixed income and the USD.
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