Jerome Powell: US economy doesn’t signal Fed needs to speed up rate cuts

Federal Reserve Chairman Jerome Powell said that strong economic growth in the United States will allow policymakers to be more cautious in deciding how quickly and how quickly to cut interest rates.

“The economy is not sending any signals that we need to rush to cut rates. The strength we see in the economy now gives us the ability to carefully manage our decisions,” Powell said in remarks to business leaders in Dallas.

The central bank chief described domestic growth as the best ever seen in any major economy in the world, and expected inflation to continue to decline.