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Nearly 12,000 homes are flooded in a Russian region bordering Kazakhstan as water levels keep rising

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Nearly 12,000 homes are flooded in a Russian region bordering Kazakhstan as water levels keep rising
News

News

Nearly 12,000 homes are flooded in a Russian region bordering Kazakhstan as water levels keep rising

2024-04-12 20:03 Last Updated At:20:10

MOSCOW (AP) — Nearly 12,000 houses have been flooded in a Russian region bordering Kazakhstan as water levels in the Ural River keep rising and threatening more deluge, authorities said Thursday.

The floods sparked evacuations of thousands in the Orenburg region, located some 1,200 kilometers (745 miles), southeast of the capital of Moscow after a dam on the river burst last week under the pressure of surging waters. Local authorities have declared a state of emergency in the region.

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Local residents ride their rubber boat to help in evacuations people from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

MOSCOW (AP) — Nearly 12,000 houses have been flooded in a Russian region bordering Kazakhstan as water levels in the Ural River keep rising and threatening more deluge, authorities said Thursday.

A couple sits on stairs watching a flooded area around the Stele Europe - Asia, showing the border between Europe and Asia, in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A couple sits on stairs watching a flooded area around the Stele Europe - Asia, showing the border between Europe and Asia, in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man rides his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man rides his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man prepares to ride his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man prepares to ride his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo of a flooded area next to Ural river in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo of a flooded area next to Ural river in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents watch a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents watch a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo standing behind a rubber dam at a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo standing behind a rubber dam at a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A refrigerator floats in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A refrigerator floats in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents prepare their pony to cross a flooded area by boat in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents prepare their pony to cross a flooded area by boat in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A view of a flooded area in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A view of a flooded area in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two local residents are going ride a rubber boat to leave a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two local residents are going ride a rubber boat to leave a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stay on a pedestrian bridge crossing the overflowing Ural River in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stay on a pedestrian bridge crossing the overflowing Ural River in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat as they deliver food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat as they deliver food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman carries her pat leaving a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman carries her pat leaving a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat delivering food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat delivering food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at a barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at a barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Russian Emergency Situation Ministry rescuers ride a boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Russian Emergency Situation Ministry rescuers ride a boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

In a televised videoconference with President Vladimir Putin, Orenburg governor Denis Pasler reported that a total of 11,972 houses are flooded, as well as 16 state medical facilities. Additionally, 3,600 houses — home to some 20,000 people — are in danger of imminent flooding as water levels continue to rise.

The situation is most dire in the city of Orenburg, the administrative capital of the region, Pasler said, where the water level in the Ural River reached a historical peak of 10.87 meters (about 36 feet).

A total of 7,800 people have been evacuated from the flooded areas so far, he added. The overall damage from the floods is estimated to exceed 40 billion rubles ($428 million).

Further east along the Kazakhstan border, authorities in the regions of Kurgan and Tyumen are also preparing for possible floods as water levels rise in local rivers.

Floods have also hit Kazakhstan, where authorities have declared a state of emergency in 10 out of 17 regions of the country, according to Russia's state news agency Tass. As of Thursday, the state of emergency was still in place in eight regions, Tass reported. Since March, more than 98,000 people have been evacuated from the affected areas there.

Footage from the flooded regions in Kazakhstan showed water gushing down streets, vast fields covered with water and dozens of houses partially submerged. Kazakh President Kassym-Jomart Tokayev has called the floods “a natural disaster ... the likes of which have not been seen for many years.”

“This is, perhaps, the biggest disaster in terms of its scale and consequences in over 80 years,” he said last week.

Local residents ride their rubber boat to help in evacuations people from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents ride their rubber boat to help in evacuations people from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A couple sits on stairs watching a flooded area around the Stele Europe - Asia, showing the border between Europe and Asia, in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A couple sits on stairs watching a flooded area around the Stele Europe - Asia, showing the border between Europe and Asia, in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man rides his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man rides his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man prepares to ride his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A man prepares to ride his rubber boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo of a flooded area next to Ural river in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo of a flooded area next to Ural river in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents watch a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents watch a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo standing behind a rubber dam at a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman takes a photo standing behind a rubber dam at a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A refrigerator floats in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A refrigerator floats in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents prepare their pony to cross a flooded area by boat in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents prepare their pony to cross a flooded area by boat in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A view of a flooded area in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A view of a flooded area in Orenburg, Russia, Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two local residents are going ride a rubber boat to leave a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two local residents are going ride a rubber boat to leave a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stay on a pedestrian bridge crossing the overflowing Ural River in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stay on a pedestrian bridge crossing the overflowing Ural River in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat as they deliver food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat as they deliver food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman carries her pat leaving a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

A woman carries her pat leaving a boat in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat delivering food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Two men ride a boat delivering food in a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at a barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at a barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Local residents stand at barriers watching a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Russian Emergency Situation Ministry rescuers ride a boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

Russian Emergency Situation Ministry rescuers ride a boat to help local residents during evacuations from a flooded area in Orenburg, Russia, on Thursday, April 11, 2024. Russian officials are scrambling to help homeowners displaced by floods, as water levels have risen in the Ural River. The river's water level in the city of Orenburg was above 10 meters (33 feet) Wednesday, state news agency Ria Novosti reported, citing the regional governor. (AP Photo)

WASHINGTON (AP) — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target.

The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a two-decade high of roughly 5.3%. Several hotter-than-expected reports on prices and economic growth have recently undercut the Fed’s belief that inflation was steadily easing. The combination of high interest rates and persistent inflation has also emerged as a potential threat to President Joe Biden’s re-election bid.

“In recent months," Chair Jerome Powell said at a news conference, “inflation has shown a lack of further progress toward our 2% objective."

“It is likely that gaining greater confidence,” he added, "will take longer than previously expected.”

The Fed chair stressed, as he has before, that the central bank's decision on when to cut rates will depend on the latest economic data. But he struck a note of optimism, saying, “My expectation is that over the course of this year, we will see inflation move back down.”

Wall Street traders cheered the prospect that the Fed will cut rates at some point this year, even if not as soon as they had hoped. Share prices surged and yields fell during Powell's news conference, with stock indexes all rising more than 1%.

Still, the central bank’s latest message reflects a shift in its timetable on interest rates. As recently as their last meeting on March 20, the Fed’s policymakers had projected three rate reductions in 2024, likely starting in June. Rate cuts by the Fed would lead, over time, to lower borrowing costs for consumers and businesses, including for mortgages, auto loans and credit cards. But given the persistence of elevated inflation, financial markets now expect just one rate cut this year, in November, according to futures prices tracked by CME FedWatch.

The Fed’s warier outlook stems from three months of data that pointed to chronic inflation pressures and robust consumer spending. Inflation has cooled from a peak of 7.1%, according to the Fed’s preferred measure, to 2.7%, as supply chains have eased and the cost of some goods has actually declined.

Average prices, though, remain well above their pre-pandemic levels, and the costs of services ranging from apartment rents and health care to restaurant meals and auto insurance continue to surge. With the presidential election six months away, many Americans have expressed discontent with the economy, notably over the pace of price increases.

On Wednesday, the Fed announced that it would slow the pace at which it’s unwinding one of its biggest COVID-era policies: Its purchase of several trillion dollars in Treasury securities and mortgage-backed bonds, an effort to stabilize financial markets and keep longer-term rates low.

The Fed is now allowing $95 billion of those securities to mature each month, without replacing them. Its holdings have fallen to about $7.4 trillion, down from $8.9 trillion in June 2022, when it began reducing them. On Wednesday, the Fed said it would, in June, reduce its holdings at a slower pace, and allow a total of $60 billion of bonds to run off each month.

By cutting back its holdings, the Fed could contribute to keeping longer-term rates, including mortgage rates, higher than they would be otherwise. That’s because as it reduces its bond holdings, other buyers will have to buy the securities instead, and rates might have to rise to attract the needed buyers.

The U.S. economy is healthier and hiring stronger than most economists thought it would be at this point. The unemployment rate has remained below 4% for more than two years, the longest such streak since the 1960s. And while economic growth reached just a 1.6% annual pace in the first three months of this year, consumer spending grew at a robust pace, a sign that the economy will keep expanding.

That economic strength has led some Fed officials to speculate that the current level of interest rates might not be high enough to have the cooling effect on the economy and inflation that they need — and that the policymakers might even need to switch back to rate increases.

But at Wednesday's news conference, Powell sought to dispel such speculation, saying, "I think it’s unlikely that the next policy rate move will be a hike.”

He also downplayed any concerns that the economy might be at risk of sliding into “stagflation” — a toxic combination of weak growth, high unemployment and elevated inflation that afflicted the United States during the 1970s.

“I was around for stagflation," Powell said, "and it was 10% unemployment, it was high-single-digit inflation. And very slow growth. Right now, we have 3% growth which is pretty solid growth, I would say, by any measure. And we have inflation running under 3%. ...I don’t see the ‘stag’ or the ‘flation,’ actually.”

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell arrives for a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell arrives for a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell arrives for a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell arrives for a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, May 1, 2024. (AP Photo/Susan Walsh)

FILE - Federal Reserve Board chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, March 20, 2024. The Federal Reserve wraps up its two-day policy meeting Wednesday, May 1, 2024. Most analysts expect that the central bank will leave its benchmark borrowing rate alone for the sixth straight meeting. (AP Photo/Susan Walsh, File)

FILE - Federal Reserve Board chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, March 20, 2024. The Federal Reserve wraps up its two-day policy meeting Wednesday, May 1, 2024. Most analysts expect that the central bank will leave its benchmark borrowing rate alone for the sixth straight meeting. (AP Photo/Susan Walsh, File)

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