Fed's Powell: will need substantially more evidence to be confident inflation on downward path
NEW YORK, Feb 1 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday welcomed recent cooling in inflation data but said there had not been enough progress bringing price pressures back to 2%.
"We will need substantially more evidence” that inflation is ebbing to be confident that it's moving back toward the target," Powell said in a press conference following the Federal Open Market Committee meeting.
Reporting by Michael S. Derby Editing by Chris Reese
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