by Wolf Richter
Wolf Street
“Companies figured out they do like to raise prices. But we also hear a lot from companies these days that consumers have really had it with price increases.”
At the press conference following the meeting when the Fed pivoted to wait-and-see, Powell was asked multiple times from various angles about future rate cuts. In responding, and even on his own when not responding, Powell mentioned five times some version of “we do not need to be in a hurry” to cut, and eight times a version of “we need to see further progress” on inflation before cutting further.