02:48 PM EDT, 04/16/2024 (MT Newswires) -- Fed Chair Jerome Powell (voter) said the recent inflation data, which have indicated a stalling of progress, suggest it will take longer than previously expected for the Federal Open Market Committee to feel confident enough to lower interest rates.

Powell said that the FOMC is positioned to react to the incoming data and would be able to keep rates restrictive as long as needed.

Fed Vice Chair Philip Jefferson (voter) said if inflation remains more persistent than expected, it would be appropriate to hold the policy rate higher for longer, adding that he is "fully committed" to getting the rate of inflation back down to the 2% goal.

Recent comments of note:

(April 15) San Francisco Fed President Mary Daly (voter) said that monetary policy is in a "good place" and that there is no urgent need to cut interest rates, Bloomberg reported.

(April 15) New York Fed President John Williams (voter) told Bloomberg TV that the FOMC is still likely to lower rates at some point this year, even as markets remain concerned about the string of stronger-than-expected data reports.

(April 12) Daly said there is "no urgency" for the FOMC to cut rates and it should wait for further evidence that inflation is on track back toward the 2% goal.

(April 12) Kansas City Fed President Jeffrey Schmid (nonvoter) said the FOMC should wait for "clear and convincing" evidence that inflation is slowing back to 2%.

(April 12) Atlanta Fed President Raphael Bostic (voter) noted that tight home supply due to regulations and stigma tilted against affordable homes has reduced affordability and widened economic disparities. Bostic did not make any comments on the overall economy or monetary policy but noted that economies are generally more robust and monetary policy more effective when they are more inclusive.