The Federal Reserve said Wednesday that it has insufficient evidence that inflation is slowing fast enough to justify a rate cut. Chair Jerome Powell said cuts are possible later in the year. (Photo by Anna Moneymaker/Getty Images)The Federal Reserve declined Wednesday to cut interest rates, saying it remains uncertain inflation is slowing enough, but some economists warned the financial regulators risk waiting too long to make cuts. Fed Chairman Jerome Powell said the Fed has a lack of sufficient data that inflation is slowing enough to justify taking the pressure off interest rates yet. The Fed started raising the federal funds rate in March 2022 to battle inflation and continued until the
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