BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Powell Rules Out Immediate Rate Hikes, Eyes Longer Policy Hold

Michael Juanico by Michael Juanico
May 14, 2024
in BUSINESS, CRYPTO
Reading Time: 3 mins read
1
SHARES
20
VIEWS
Share on XShare in TelegramShare on Reddit
  • Powell acknowledged that inflation has been higher than expected, indicating the need for patience and allowing restrictive policy to work.
  • He stated that the Fed is unlikely to raise rates further based on the current data, and it is more likely that rates will remain at the current level.
  • Despite recent higher-than-expected inflation data, Powell believes it is too early to determine if inflation will be more persistent going forward, requiring more than a quarter’s worth of data to make a judgment.

Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected, likely keeping interest rates elevated for an extended period.

NEW: 🇺🇸 Fed Reserve Chair Jerome Powell reiterated that high inflation rates are declining more slowly than anticipated

— BlockNews.com (@blocknewsdotcom) May 14, 2024

Powell’s Comments in Amsterdam

Speaking at the annual general meeting of the Foreign Bankers Association in Amsterdam, Powell noted that the rapid disinflation that happened in 2023 has slowed considerably this year and caused a rethink of where policy is headed.

“We did not expect this to be a smooth road. But these inflation readings were higher than I think anybody expected,” Powell said. “What that has told us is that we’ll need to be patient and let restrictive policy do its work.”

While he expects inflation to come down through the year, he noted that hasn’t happened so far. “I do think it’s really a question of keeping policy at the current rate for longer than had been thought,” he said.

However, Powell also repeated that he does not expect the Fed to be raising rates.

Outlook on Future Rate Hikes

“I don’t think that it’s likely based on the data that we have that the next move that we make would be a rate hike,” Powell said. “I think it’s more likely that we’ll be at a place where we hold the policy rate where it is.”

Markets vacillated as Powell spoke around 10 am ET and major averages were near breakeven approaching noon ET. Treasury yields edged lower and futures traders slightly raised the market-implied probability of the Fed’s first rate cut coming in September.

April Inflation Data

Powell’s comments mirrored sentiments he expressed during his May 1 news conference after the most recent Federal Open Market Committee meeting.

Tuesday brought a fresh round of discouraging inflation data when the Labor Department’s producer price index, a proxy for wholesale costs, rose a higher-than-expected 0.5% in April on the back of a surge in services prices.

Though the index on its surface indicated further price pressures, Powell called the report “mixed” as some of the components showed easing movement.

“Is inflation going to be more persistent going forward? I don’t think we know that yet. I think we need more than a quarter’s worth of data to really make a judgement on that,” he said.

Conclusion

In summary, Powell reiterated that inflation is proving sticky and the Fed will need to keep interest rates elevated for longer than previously thought. While he doesn’t expect further hikes, the path of inflation remains uncertain.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Federal ReserveForeign Bankers Association in Amsterdamfutures tradersJerome Powell
TweetShareShare
Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

DON'T MISS THESE! HOT OFF THE PRESS

US Lawmakers to Meet Crypto Executives on Strategic Bitcoin Reserve
BITCOIN

US Lawmakers to Meet Crypto Executives on Strategic Bitcoin Reserve

September 15, 2025
Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know
BUSINESS

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders
CRYPTO

Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

September 15, 2025
Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target
CRYPTO

Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

September 15, 2025
Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out
BITCOIN

Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out

September 15, 2025
How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy
CRYPTO

How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy

September 15, 2025
Load More

Related News

US Lawmakers to Meet Crypto Executives on Strategic Bitcoin Reserve

US Lawmakers to Meet Crypto Executives on Strategic Bitcoin Reserve

September 15, 2025
Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or $180K in 2025?

Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or $180K in 2025?

September 15, 2025
Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

September 15, 2025
Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

September 15, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews