Inflation data this week could help determine Fed's timetable for rate cuts

After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful progress on inflation this year — a prelude to eventual interest rate cuts. Yet it’s hard to say, because the officials themselves may not know for sure until they begin their meeting. That’s because the government’s latest snapshot of U.S. inflation will be released Wednesday morning, just before the Fed begins the second day of its policy discussions. At a news conference, though, Chair Jerome Powell will likely reiterate that Fed officials need further confidence that inflation is returning to 2% before they would consider rate cuts.