Powell: The Federal Reserve does not need to be "in a hurry" to cut interest rates

ChainCatcher message, Federal Reserve Chairman Powell stated that due to the strong U.S. economy, the Federal Reserve does not need to "rush" to lower interest rates, and the Federal Reserve will "carefully observe" to ensure that certain inflation indicators remain within acceptable ranges. Powell reiterated that the path of the Federal Reserve's policy interest rates will depend on upcoming data and the evolution of the economic outlook. He mentioned that the inflation rate is approaching the Federal Reserve's 2% target but has not yet reached it.

The Federal Reserve will closely monitor core inflation indicators for goods and services excluding housing, which have been declining over the past two years. "We expect these indicators to continue to fluctuate in the near term, and the path to the Federal Reserve's 2% target may sometimes be bumpy." (Jin Shi)