Powell says the Fed is not in any 'hurry' to lower interest rates:: Jerome Powell, Federal Reserve Chair"The labor market remains in solid condition. Inflation has eased substantially from its peak, and we believe it is on a sustainable path to our 2% goal.

Federal Reserve Chair Jerome Powell said recent signs of economic health would allow the central bank to take its time in deciding how quickly to continue reducing interest rates, including by potentially slowing down the pace of cuts.

Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.