Fed Chairman Powell: We don’t need to rush to cut interest rates

PANews reported on March 29 that Federal Reserve Chairman Powell just said in a speech on the theme of "Macroeconomics and Monetary Policy" that monetary policy is ready and able to respond to different economic data paths. Powell stressed that despite the strong economy, the Fed could choose to wait before considering cutting interest rates to boost confidence. He made it clear there was no need to rush to cut interest rates and would remain cautious about such decisions. Powell mentioned that the Fed is prepared for possible surprises in the economy, but also warned that waiting too long could cause unnecessary damage to the economy and labor market. He also pointed out that he would not overreact because of higher data in certain months of this year, while emphasizing that the risks are two-way and cutting interest rates prematurely could cause significant disruption.