Advertisement
Canada markets closed

  • S&P/TSX

    24,822.54
    +132.04 (+0.53%)
     

  • S&P 500

    5,864.67
    +23.20 (+0.40%)
     

  • DOW

    43,275.91
    +36.81 (+0.09%)
     

  • CAD/USD

    0.7243
    -0.0004 (-0.06%)
     

  • CRUDE OIL

    69.46
    +0.24 (+0.35%)
     

  • Bitcoin CAD

    95,681.43
    +1,320.84 (+1.40%)
     

  • XRP CAD

    0.76
    +0.01 (+0.90%)
     

  • GOLD FUTURES

    2,738.00
    +8.00 (+0.29%)
     

  • RUSSELL 2000

    2,276.09
    -4.76 (-0.21%)
     

  • 10-Yr Bond

    4.0730
    -0.0230 (-0.56%)
     

  • NASDAQ futures

    20,503.75
    +20.25 (+0.10%)
     

  • VOLATILITY

    18.03
    -1.08 (-5.65%)
     

  • FTSE

    8,358.25
    -26.88 (-0.32%)
     

  • NIKKEI 225

    38,844.45
    -137.30 (-0.35%)
     

  • CAD/EUR

    0.6663
    -0.0003 (-0.04%)
     

Fed's Powell: Recent price data bolstering confidence inflation moderating

Reuters
FILE PHOTO: U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference in Washington

NEW YORK (Reuters) - Federal Reserve Chair Jerome Powell said recent inflation data is increasing the central bank's confidence that inflation pressures are moving back to the 2% target.

After inflation data moderated in the second quarter, Fed officials have "gained greater confidence" price pressures are moderating in way that will open the door to a rate cut, Powell said in a press conference following the Fed's latest policy meeting where they kept interest rates steady.

(Reporting by Michael S. Derby; Editing by Chris Reese)