Jay Powell and the Fed’s Recent Shift to “Higher For Longer”

Federal Reserve Signals Interest Rate Cuts Delay Amid Inflation Concerns

In recent developments, Federal Reserve Chair Jay Powell has altered the trajectory of U.S. monetary policy, suggesting that interest rates are likely to remain elevated for an extended period, contrary to previous indications of potential rate cuts in 2024. This shift is rooted in persistently high inflation figures, challenging the Fed's initial outlook.