Federal Reserve Chair Powell expects inflation to fall

Federal Reserve Chair Jerome Powell said he expects US inflation to continue declining through 2024 as it did last year, though his confidence in that has fallen after prices rose more quickly than expected through the first quarter.

"I expect that inflation will move back down ... on a monthly basis to levels that were more like the lower readings that we were having last year," Powell said at a banking event in Amsterdam. "I would say my confidence in that is not as high as it was."

Reuters