(Radio Iowa) – The chair of the Federal Reserve says interest rates will hold steady for now. Creighton University economist Ernie Goss says his survey of manufacturers showed improvement in the economy, but things have still not improved enough to lower rates. “I think there’s still more inflationary pressures in surveys out there, including ours, that indicate that inflation while coming down significantly is still above what the Fed is comfortable with,” Goss says. There had been expectations of three rate cuts, that dropped to two, and now Goss says it will probably drop again.

“I think we’ll probably move to one rate cut which will probably come in July or later on in the third quarter,” Goss says. Goss believes investors took the idea that the Fed would lower interest rates more positively than they should have.