• Federal Reserve Chair Jerome Powell on Tuesday gave a bullish assessment of where the U.S. economy stands now, with an outlook for continued above-trend growth and confidence in falling inflation that, while eroded by recent data, remains largely intact.
• “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.
• Though he said “my confidence in that is not as high as it was,” given faster than expected inflation through the first three months of the year, the U.S. central bank chief said it remained unlikely in his view that the Fed would have to raise rates any further, even if the prospect for rate cuts has become less certain.

https://www.reuters.com/markets/us/us-feds-powell-expects-inflation-fall-though-not-confident-before-2024-05-14/