Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
![Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady](https://media-cldnry.s-nbcnews.com/image/upload/t_fit_1500w/rockcms/2024-05/240514-Jerome-Powell-se-125p-85dc75.jpg)
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period.