Powell: Fed still sees rate cuts this year; election timing won't affect decision

WASHINGTON Ç " Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February. Ç£ The recent data do not Ǫ materially change the overall picture, Ç¥ Powell said in a…