Federal Reserve Chairman Powell: We do not need to rush to cut interest rates

ChainCatcher news, Federal Reserve Chairman Powell just stated in a speech titled "Macroeconomics and Monetary Policy" that monetary policy is ready and able to respond to different economic data paths.

Powell emphasized that despite strong economic performance, the Federal Reserve can choose to wait before considering interest rate cuts to build confidence. He made it clear that there is no need to rush to reduce rates and will remain cautious about such decisions. Powell mentioned that the Federal Reserve is prepared to respond to unexpected economic performances, but also warned that waiting too long could cause unnecessary harm to the economy and labor market. He also pointed out that there will be no overreaction due to higher data in certain months this year, while emphasizing that the risks are two-sided, and premature rate cuts could lead to significant disruptions.