Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

( ) -q-24- UNDATED (Correspondent Jeremy House) “to hospital prices.”

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading.

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Title: INFLATION-RATE-CUTS-house-q-WEDam
Out-cue: to hospital prices]

TAG: Correspondent Jeremy House reporting. Though Fed officials say they expect inflation in those areas to eventually cool, they’ve signaled that they’re prepared to wait as long as it takes.

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VERBATIM: A stream of recent remarks by Fed officials have underscored their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. A key reason for the delay in rate cuts is that the inflation pressures that are hurting the economy are being driven largely by lingering forces from the pandemic. They include items ranging from apartment rents to auto insurance to hospital prices.