-- Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.Dow Average Touches 40,000 Before Pulling Back: Markets Wrap
Mester, who votes on policy decisions this year, is stepping down at the end of June when her term expires. She said policy was well positioned and it was too soon to say progress on inflation had stalled, reiterating comments she made earlier this week. “To get to 2% sustainably in the right kind of way, I just think it’s going to take a little bit more time,” said Barkin, who also votes on policy decisions this year.Data released Wednesday showed a measure of underlying US inflation ebbed in April for the first time in six months, providing some progress in the direction Fed officials would like to see before reducing rates. The core consumer price index, which excludes food and energy costs, rose 0.
Mester said the report offered a “welcome tick down” in monthly inflation, but she and other central bankers have said they want to see more data to be confident inflation is headed to the Fed’s 2% goal. “I still think there’s just a lot of movement on the services side and it’s going to take a little bit of time,” Barkin said. “I do believe we are on the right path here.”Neuralink’s First Patient: ‘It Blows My Mind So Much’Analysis-Walmart's strong forecast signals a resilient consumer
-- Top US regulators are pushing ahead with a bid to boost oversight of investment funds managed by bank trust departments, Securities and Exchange Commission Chair Gary Gensler said Thursday.
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