Federal Reserve Chairman Jerome Powell and his team had hoped to lower interest rates in 2024. But sticky inflation, a strong economy, and calendar quirks are thwarting their plans.

The Federal Reserve may decide not to cut interest rates this year, Blue Chip Daily Trend Report said Friday, but the firm’s view could change if it sees at least one key shift in economic data. The April PCE inflation report released Friday showed the Fed’s official target,

Federal Reserve Chair Jerome Powell said Tuesday that “it may take longer than expected” for high interest rates to lower inflation and gave no hint that a recently slowing labor market could mean earlier rate cuts.