Buckle up America: Powell says interest rates will likely stay higher for longer as inflation stubbornly refuses to come down

Kent Nishimura/Getty Images

• Fed Chair Jerome Powell said that he expects interest rates to stay higher for longer.
• He said his confidence that inflation will slow "is not as high as it was."
• Still, the slowing job market is a sign that the economy is moving in the right direction.

Inflation and interest rates are still high, but Americans shouldn't count on any relief just yet.

Since July 2023, the Federal Reserve...