Fed Chair Powell Indicates No Rush to Cut Interest Rates

According to PANews, Federal Reserve Chairman Jerome Powell recently spoke on the topic of macroeconomics and monetary policy, stating that monetary policy is ready to respond to different economic data paths. Powell emphasized that despite strong economic performance, the Fed can choose to wait before considering a rate cut to boost confidence. He made it clear that there is no need to rush to cut interest rates and will maintain caution in making such decisions. Powell mentioned that the Fed is prepared to deal with any unexpected economic performance but also warned that waiting too long could cause unnecessary damage to the economy and labor market. He also pointed out that he will not overreact to higher data in certain months this year, while emphasizing that risks are two-way, and cutting rates too early could cause significant disruptions.