The president of the Federal Reserve, Jerome Powell, has stated that lowering inflation will likely take longer than anticipated, which could delay any potential interest rate cuts this year. Speaking to reporters, Powell emphasized that high inflation rates are a major concern and will need to be addressed before any adjustments to interest rates can be considered.
This news comes in the midst of concerns about the impact of high interest rates on the economy of Puerto Rico. The island’s economy has been struggling in recent years, and the prospect of further delays in lowering inflation and cutting interest rates could have significant implications for the region.
Investors and market analysts are closely watching the situation, as any decisions made by the Federal Reserve regarding interest rates could have far-reaching effects on not only Puerto Rico but also the wider economy. It remains to be seen how policymakers will navigate the challenges posed by high inflation rates and the need for economic stimulus in the coming months.