Federal Reserve Chairman Powell: We will look for further progress on inflation to consider cutting interest rates

Bitget news, Federal Reserve Chairman Powell: We are in a phase of thinking and cannot come up with clear answers for some time. We will look for further progress on inflation to consider lowering interest rates. The extent and timing of (future) rate cuts are not decisions we have already made. We expect significant policy changes, we need to see what they are and their impact, to get a clearer picture. There is no reason to believe that the possibility of an economic downturn is higher than usual. We must continue restrictive policies to achieve 2% inflation. We have made significant progress in controlling inflation. I am confident about the reasons for the decline in inflation. Commodity inflation has generally returned to pre-pandemic levels.