U.S. Federal Reserve Chairman Powell said on the 3rd that policymakers will need some time to evaluate the current inflation situation, so the timing of the Fed's interest rate cut is still uncertain.When Powell attended an event at Stanford University that day, he said it was uncertain whether the data released so far meant a temporary rise in U.S. inflation."It would not be appropriate" to lower interest rates until there is greater confidence that inflation will continue to fall toward the long-term target of 2%.Powell said that recent U.S. employment growth and inflation data have been higher than expected, but they have not brought substantial changes to the overall trend, and both data still maintain solid growth.Among them, the supply and demand relationship in the labor market is being rebalanced, and the inflation rate is also declining "on a bumpy road" toward 2%.Given the progress the U.S. economy and inflation have made so far, the Fed has time to wait for more data in the future and make policy responses accordingly.The Federal Reserve kept the federal funds rate target range unchanged at 5.25%-5.5% after concluding its March monetary policy meeting.At the press conference after the meeting, Powell emphasized that the Fed would remain patient and cautious in lowering interest rates.This is also consistent with the statements of other senior Fed officials.These remarks also cooled market expectations that the Federal Reserve will implement interest rate cuts in the short term.According to a Fed tracking data from the Chicago Mercantile Exchange, the current market basically believes that the Federal Reserve will keep interest rates unchanged at the May meeting, and expectations for a 25 basis point interest rate cut in June have also dropped to around 55%, far lower than the previous 70%. %about.
