According to Odaily, US Federal Reserve Chairman Jerome Powell has made a statement regarding the mixed nature of the US Producer Price Index (PPI) data. He expressed uncertainty about whether inflation would persist and suggested that restrictive policies might take longer than expected to take effect in order to reduce inflation.
The goal is to bring the inflation rate back down to 2%. However, Powell indicated that from many perspectives, policy rates are restrictive. He does not believe that the next step would likely be a rate hike, but rather, it is more probable that policy rates will be maintained at their current level.
These comments come amidst ongoing discussions about the state of the US economy and the potential impacts of inflation. The Federal Reserve's approach to managing inflation and its potential impacts on the economy will continue to be a topic of interest in the coming months.