Good morning. Jerome Powell isn’t in a hurry to lower US interest rates. Rachel Reeves says that the UK’s crackdown on banks went too far. And shop for thrifty to expensive watches with Bloomberg Pursuits.

But if inflation continues to inch upward, the central bank may decide it needs to leave rates high to avoid a repeat of runaway inflation. Inflation peaked at 9.1% in June 2022 before slowly making its way back down closer to the Fed's target range of 2%.

Futures tied to the Federal Reserve's policy rate edged down after data showed wholesale prices firmed a little more than expected last month, though not enough to suggest traders have lost confidence that the U.

Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

"The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said Thursday in Dallas.