Central Banks Tread Cautiously Despite Easing Inflation

Investors looking for clear guidance on the path of interest rates received few firm commitments from top central bankers on Tuesday despite the progress seen on inflation. At an event in Portugal, Jerome Powell, chair of the Fed, and Christine Lagarde, president of the European Central Bank (ECB), said they were content to watch the incoming data before committing to any decision on interest rates. Powell said that although the US has made “quite a bit of progress” on returning inflation to two percent, he still wanted to be “more…