【CNBC】Hopes for more Fed rate cuts dim as Powell notes hot CPI means ‘we’re not quite there yet’

• A Fed interest rate cut won’t be coming until at least September, if at all this year, following a troubling inflation report Wednesday.
• Chair Jerome Powell, in an appearance before the House Financial Services Committee, insisted the Fed had made “great progress” on inflation from its cycle peak “but we’re not quite there yet.”

READ MORE