With inflation slowing, the Fed faces expectations for rate cuts

( ) -q-25- UNDATED (Correspondent Jeremy House) “May or June.”

Chairman Jerome Powell will enter this week’s Federal Reserve meeting in a much more desirable position than he likely ever expected.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Inflation is nearing the Fed’s target rate, the economy is still growing at a steady pace, consumers keep spending and the unemployment rate is near a half-century low. When they last met in December, the Fed’s policymakers said they expected to cut their benchmark rate three times this year. Yet the timing of those rate cuts remains uncertain. Most economists say they expect the first rate cut to occur in May or June.