Fed chief pushes back against hopes for early US rate reduction

The remarks of Jerome Powell may also have a bearing on the timing of the first rate cut from the European Central Bank, a move that would directly affect the financial health of hundreds of thousands of Irish households and businesses

Federal Reserve chair Jerome Powell: US inflation remains too high

Chair of the US Federal Reserve Jerome Powell signalled that US interest rates are heading lower, but has kept the timing of its first rate reduction close to his chest.   

The US central bank as expected announced it had left US rates unchanged on Wednesday night, but its latest communication will be a blow to investors who have been expecting US rate cuts to start as early as March.