At a press conference after the central bank s two-day policy meeting that ended Wednesday, Powell reinstated that bringing down the inflation was a priority.
U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. The survey from the Conference Board on Tuesday also showed consumers’ perceptions of the labor market softening a bit .