Some officials are concerned inflation isn’t cooling fast enough, which could prompt an 11th consecutive rate hike when policymakers meet in June. Officials didn’t express concerns over credit conditions deteriorating sharply and some said they remain open to pausing. “So far, the data continue to support the committee’s view that bringing inflation down will take some time,” Fed Chair Jerome Powell said Friday in a moderated discussion with former central bank chair Ben Bernanke.
6% that month from a year ago, and a slight easing from the 4.7% growth rate notched in February. Similarly, the Consumer Price Index also showed only a modest deceleration in its headline reading in April. “I do expect disinflation, but it’s been slower than I would have liked, and it may warrant taking out some insurance by raising rates somewhat more to make sure that we really do get inflation under control,” St.