Inflation in the United States is slowing again after higher readings earlier this year. Federal Reserve chair Jerome Powell says we are getting back on a disinflationary path, but more such evidence would be needed before the Fed would cut interest rates. Retired Ripon College economist Paul Schoofs says he’s a little bit disappointed Powell is still saying he is continuing to watch for data. “It looks to me that there’s enough data showing up that it may well be a time to start seriously considering reducing interest rates,” Schoofs told AM 1170s Between the Lines program. Powell says Fed officials still want to see annual price growth slow further toward their two percent target before they would feel confident of having fully defeated high inflation.
