Federal Reserve Chair Jerome Powell said Sunday his committee is unlikely to consider cutting the federal funds rate at its next meeting in March. The implication from his remarks in a “60 Minutes” interview was that the board would not entertain the idea until the following meeting in May.
“We want to see more evidence that inflation is moving sustainably down to 2%,” Powell said. “We have some confidence in that. Our confidence is rising. We just want some more confidence before we take that very important step of beginning to cut interest rates.”
