During a panel discussion, Powell said his confidence that inflation will ease "is not as high as it was"
The Fed will take its time to find out
Board says inflation has remained stubbornly high in recent months
The trend could contribute to higher inflation, raise concerns at the Fed
Many economists envision no rate cuts before September
U.S. consumer inflation was most recently reported at 3.5%
Figures from March will likely delay Fed rate cuts
Says recent data showing signs of persistent inflation don’t materially change the overall picture
Officials kept their benchmark rate unchanged for a fifth straight time, slightly raised inflation forecasts
Federal Reserve officials are expected to play it safe when they meet this week