Fed Chairman Powell said that interest rates are still expected to fall further, but he hinted that rates may not fall that much in the coming months.

Powell said the Fed may make more rate cuts because economic trends and dynamics are expected to remain unchanged, at least in the short term. This includes a slowing job market and cooling inflation, while interest rates are still restrictive, and maintaining interest rates at their current high levels may push up unemployment. Powell said, "Over time, we will move policy to a more neutral level." (Jinshi)