Powell Says Fed Doesn’t Need to Be in a Hurry to Lower Rates
- Fed holds benchmark rate steady after string of cuts last year
- Officials are waiting to see which Trump policies are enacted
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Federal Reserve Chair Jerome Powell said officials are not in a rush to lower interest rates, adding the central bank is pausing to see further progress on inflation following a string of rate reductions last year.
“We do not need to be in a hurry to adjust our policy stance,” Powell said Wednesday, noting that the economy remains strong and interest rates are no longer restraining the economy as much as they had been.