Jerome Powell Says Fed Not In a Hurry to Lower Interest Rates

‘The economy is not sending any signals that we need to be in a hurry to lower rates,’ the Federal Reserve chair said.

US Federal Reserve chairman Jerome Powell holds a press conference in Washington, DC, on September 18, 2024. The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction since the pandemic, sharply lowering borrowing costs shortly before November's presidential election. Photo by Mandel NGAN / AFP

The Federal Reserve is not “in a hurry” to lower interest rates, says central bank chief Jerome Powell.

In his first public remarks since the Federal Reserve announced a second consecutive rate cut last week, Powell said that the strong U.S. economy will give monetary policymakers enough time to determine the pace and size of rate cuts.