Powell says Fed wants to see ‘more good inflation readings’ before it can cut rates [Video]

WASHINGTON – Federal Reserve Chair Jerome Powell on Friday reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it won’t be ready to do so until it sees “more good inflation readings’’ and is more confident that annual price increases are falling toward its 2% target.

Speaking at a conference at the Federal Reserve Bank of San Francisco, Powell said he still expected “inflation to come down on a sometimes bumpy path to 2%.” But the central bank’s policymakers, he said, need to …