Powell says the Fed doesn’t need to ‘rush’ to lower rates.

Key receivers

Federal Reserve Chairman Jerome Powell has emphasized a cautious approach to lowering interest rates. The Fed will maintain the current interest rate, focusing on economic strength and inflation.

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Federal Reserve Chairman Jerome Powell said the central bank does not need to rush to cut interest rates given the strength of the economy and emphasized a cautious approach to future policy decisions.

“The economy is not sending any signs that we need to be in a hurry to raise the minimum standards,” Powell said in a speech in Dallas.

Powell indicated that the Fed will be “watching closely” to ensure that measures of inflation remain within an acceptable range.

The comments come as financial markets speculate about potential rate cuts.

“The strength we see in the economy right now gives us the ability to approach our decisions with caution,” Powell said, highlighting the Fed's data-driven approach to monetary policy decisions.

The Fed chairman's stance suggests the central bank will maintain the current high interest rates that have been used to fight inflation for the past two years.

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