"Fed megaphone": Fed may still not cut interest rates before September

Nick Timiraos, the Fed's mouthpiece, wrote that the April inflation report showed that price pressures eased last month, which should make it easier for Fed officials to keep policy on hold at next month's meeting. The report itself was not enough to convince officials that the three higher-than-expected inflation data at the start of the year were deviations from the downward trend in price pressures expected by policymakers. With two more reports likely to be needed to shore up officials' confidence that inflation can return to the low levels that prevailed before the epidemic, the Fed may not be prepared to cut interest rates until September.