Powell: Gaining confidence to cut will take longer than thought

post: FED’S POWELL: WE WILL PROBABLY HAVE TO SEE WAGE GROWTH EASE TO MORE SUSTAINABLE LEVELS TO REACH INFLATION GOAL. post: POWELL: I DONT KNOW HOW LONG IT WILL TAKE BEFORE WE CAN CUT RATES post: FED’S POWELL: (WHEN ASKED ABOUT 3 RATE CUTS THIS YEAR), ONLY THAT THE FED NEEDS MORE CONFIDENCE ON INFLATION AND DIDN’T SEE PROGRESS IN Q1. post: FED’S POWELL: WE DO NEED TO TAKE A SIGNAL FROM THREE WORSE-THAN-EXPECTED INFLATION READINGS. post: FED’S POWELL: WHEN WE GET CONFIDENCE ON INFLATION, RATE CUTS WILL BE IN SCOPE.