Will inflation meet the 2% target? The Fed needs more time to figure it out

Jerome Powell said that the Fed was not yet confident that inflation was returning to its 2% target. The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.A major concern expressed by both Fed policymakers and some economists is that higher borrowing costs aren’t having as much of an impact as...