Fed's Barr: Disappointing Inflation Data Delays Rate Cuts Fed Vice Chair Michael Barr expressed disappointment with the inflation data for early 2024, indicating that the central bank lacks sufficient evidence to ease monetary policy. He emphasized the need for more time under current restrictive policies to achieve the Fed's 2% inflation target. The Personal Consumption Expenditures price index, the Fed's preferred inflation measure, was 2.7% in March, with little change in recent months.
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