Federal Reserve Chair Jerome Powell plans to tell House lawmakers Wednesday that interest rate cuts are likely “at some point” in 2024, but that the central bank will proceed cautiously as it evaluates whether inflation is cooling appropriately.
“If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,” Powell said in a copy of his prepared remarks to the House Financial Services Committee.
The group at the Fed…
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