Federal Reserve almost rule out rate hike, still focused on stubborn inflation

Federal Reserve Chair Jerome Powell has all but ruled out a rate hike this year, but was also coy on the chances of big cuts to interest this year. He pointed to stubborn inflation as the cause. His statement comes as many major chains release their Quarter 1 figures, showing consumers pulling back from spending at chains a little as inflation bites.

Ali Velshi, MSNBC anchor and chief economic correspondent, joins host Peter O’Dowd for more.

This article was originally published on WBUR.org.

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