Fed Chair Powell worries over cutting rates too late

by ian

Federal Reserve Chair Jerome Powell testified before the Senate yesterday, telling lawmakers he’s concerned about letting high interest rates stick around for too long. But at the same time, he said there could be problems easing up too fast.

Powell said he feels optimistic that inflation is cooling, but the Fed still needs “good data” to be confident that inflation is moving toward its 2% target. Powell is testifying before the House today.