[URL unfurl="true"]https://finance.yahoo.com/news/the-feds-inflation-story-hasnt-really-changed-morning-brief-100004123.html[/URL]
Referring to inflation readings in [January]('https://finance.yahoo.com/news/inflation-consumer-prices-rise-31-in-january-defying-forecasts-for-a-faster-slowdown-133334607.html') and [February]('https://finance.yahoo.com/news/consumer-prices-rise-more-than-forecast-as-inflation-pressures-persist-123226166.html'), which suggested progress on inflation moving back towards the Fed's 2% target had stalled, Powell said these readings together **"haven't really changed the overall story, which is that of inflation moving down gradually on a sometimes [SIZE=5]bumpy [/SIZE]road toward 2%."**
Over the balance of Powell's press conference, the word[SIZE=5] "bumpy" [/SIZE]was used in reference to inflation's path at least a half dozen more times.
And so the bumps will continue. But as Powell made clear elsewhere in his press conference, returning inflation to 2% "is our goal, and we'll achieve that goal."
In his press conference, Powell remained resolute that rate cuts will be needed "at some point" in 2024. Moreover, the Fed chair reiterated that rates are likely at their highs for the current cycle.
We shall see what the data says in the next few months.
Still thinking 3rd quarter, not June. Still sticky on the consumer side, with risk of prices never going down.
From the market side, business news spoke about $6 trillion sitting in MMAs as "cash" still earning a decent return.
Went from dipping the toe up to the ankle LOL, but still have cash on the side. Also, I have a bit of a tax liability to fund on 4/15. 😩
