Federal Reserve chairman Jerome Powell said the US central bank doesn’t need to rush to adjust interest rates, again signalling that officials will be patient before lowering borrowing costs further.
“With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance,” Powell said in remarks prepared for testimony on Tuesday (Wednesday AEDT) before the Senate Banking committee.
Source: https://www.afr.com/world/north-america/powell-tells-congress-fed-still-in-no-rush-to-lower-rates-20250212-p5lbd5