US inflation figures ‘don’t’ give Federal Reserve ‘enough confidence’ to cut rates

CommSec’s Tom Piotrowski says the latest inflation figures in the United States “don’t” give the Federal Reserve “enough confidence” to cut rates. “One of the features of the session overnight was that US Federal Reserve Chairman, as part of a panel discussion, offered some comments,” Mr Piotrowski told Sky News Australia. “To paraphrase what he said is that presently given the latest inflation figures that the US has seen, they don’t give the Fed enough confidence to be cutting rates. “That’s the conclusion that the markets had already drawn last week. “It’s why you’ve seen interest rates shoot up.” Presented by CommSec.