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From Barron's:

Federal Reserve Chairman Jerome Powell isn’t providing much good news for stock investors these days.

He said he’s pleased inflation is coming down quickly and the economy is strong, in an interview with 60 Minuteson Sunday. But the takeaway for him is that the Fed can afford to be patient and careful when deciding when to start lowering interest rates.

That’s the same message he gave at last week’s interest-rate decision, and he reiterated that the Fed only sees three quarter-point rate cuts this year, whereas the market predicts as many as six.