Acknowledges inflation eased in April, May (Il Sole 24 Ore Radiocor) - New York, 02 Jul - Inflation is beginning to slow again after higher readings earlier this year but more proof is needed that the easing is sustainable before interest rates can come down, Federal Reserve Chair Jerome Powell said.

Speaking in a panel discussion at conference in Portugal, Powell said Fed officials still wanted to see annual price growth slow further toward their 2% target before feeling confident high inflation had been beaten.

He acknowledged the data for April and May did suggest the US was getting back on a disinflationary path.

'We just want to understand that the levels that we're seeing are a true reading of underlying inflation," he said.

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(RADIOCOR) 02-07-24 16:29:31 (0546) 5 NNNN