Fed's Powell: Latest inflation readings in 'a pretty good place'

Federal Reserve Chair Jerome Powell noted progress in inflation readings for the second quarter of this year, indicating improvement towards the Fed's target. He highlighted three consecutive positive readings, suggesting a favorable trend. Powell's remarks, likely his final before the Fed's July meeting, come amid deliberations over economic policies, with concerns about balancing inflation and economic growth. Market expectations lean towards rate cuts starting in September, pending the Fed's July statement adjustments, which could signal the path ahead based on recent data and inflation trends.