Biden says inflation is the top domestic priority, but the Fed admits there has been a lack of progress

President Biden says inflation is top domestic priority, but Fed admits lack of progress. Biden administration has been saying inflation is a "top priority" for years. Fed admits slow progress on combating inflation, despite years of saying it is a priority. Biden: Inflation is "top domestic priority"

Fed chair Jerome Powell: High inflation likely to delay rate cuts this year. US central banker says ‘recent data have clearly not given us greater confidence’ that inflation coming fully under control. Fed chief Powell: ‘Recent data have... not shown greater confidence' that inflation is under control. Fed chair says inflation will be under control for the rest of the year.

Fed Chair Powell: Elevated inflation will likely delay interest rate cuts until later this year. Powell: Fed may open door to period of higher-for-longer rates. Fed Chair says inflation likely will delay rate cuts this year, opening the door to higher rates.

Fed Chair Powell says there has been a 'lack of further progress' this year on inflation. Powell says the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal. Powell: "There is no further progress" in interest rate cuts in the offing anytime soon.

Fed's Jerome Powell: Elevated inflation will likely delay rate cuts this year. Powell: "Recent data have clearly not given us greater confidence" that inflation is under control. “We can maintain the current level of (interest rates) for as long as needed," he said.

Fed Chair Powell: Elevated inflation will likely delay interest rate cuts until later this year. Powell: Fed may open door to period of higher-for-longer rates. Fed Chair says inflation likely will delay rate cuts this year, opening the door to higher rates.

Jerome Powell: Fed needs more time to be confident inflation is on the path to 2%. Fed Chair says inflation likely will likely delay rate cuts, likely delaying rate cuts. Powell: Inflation is likely to continue to rise despite disappointing data showing stronger-than-expected inflation.

Fed Chair Powell: Elevated inflation will likely delay rate cuts until later this year. Powell: Fed rate cuts likely to be delayed until later in the year. Fed chief Powell: "Elevated inflation" likely to delay any rate cuts this year, he says. Fed Chairman Powell: Rates will likely be held back until after Christmas.

Fed Chair Jerome Powell signaled that it will likely take longer to cut rates. Powell says it will take 'longer than expected' to achieve confidence needed to get inflation down to 2% target. Fed Chair says it's likely to take longer than expected to cut interest rates.

Fed Chair Powell says there has been a 'lack of further progress' this year on inflation. Powell said that while inflation continues to make its way lower, the current state of policy should remain intact. Fed Chair said that the state of the policy on inflation should remain unchanged.

Fed's Powell says inflation data this year shows a 'lack of progress' Federal Reserve Chair Jerome Powell on Tuesday said it is taking longer than previously expected for inflation to reach the central bank's 2% target. Powell said inflation data shows a lack of progress this year.