Powell Likely to Stress Fed's Inflation Fight Far from Over

Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve’s primary focus remains the need to fight surging prices with still-higher interest rates. With markets anticipating that the Fed will stop raising rates soon and possibly even cut them later this year, analysts say Powell will need to push back against such optimism. Powell’s tough message will likely emerge at a news conference after the Fed’s policy committee announces its latest action. The policymakers are set to raise their benchmark rate by a quarter-point to its highest level in about 15 years.

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