Inflation control progresses in the 2nd quarter “confidence will strengthen somewhat” = FRB chairman

2024/7/16 5:50 AM GMT+9 (some excerpts)

US Federal Reserve (FRB) Chairman Powell stated on the 15th that the monthly inflation index for the 2nd quarter “somewhat strengthened confidence” that the pace of price increases was returning to FRB targets in a sustainable form, and suggested the possibility that interest rate cuts would not be too far off.
At a meeting hosted by the Washington Economic Club, Mr. Powell stated that “there was some progress in the 2nd quarter” regarding inflation control, and that “inflation indicators for the past three times have improved, and on average, we are in a pretty good situation.”