Inflation “too sticky,” BoA analyst says as new data show prices increased 4.4% year over year
Powell and other officials have signalled in the past week that they're likely to support a pause
Bank failures may cause lending reduction but inflation remains well above 2% target
Stubbornness of high inflation divides Federal Reserve on managing interest rates
Rhys Mendes will become Bank of Canada deputy governor in July while Biden has made two Federal Reserve nominations
Tighter credit standards are expected to be followed by a reduction in lending
Officials want to see inflation decline consistently before considering major policy shifts
Inflation slowed to 4.2% but much of that reflects lower gas prices
Inflation still above 2% target “so monetary policy needs to be tightened further,” board member Waller said
Mild U.S. recession forecast to follow pullback in consumer, business loans