Deep tide TechFlow news, Federal Reserve Chairman Powell said at the monetary policy press conference that the U.S. economy has made significant progress. Inflation has eased significantly but remains too high, and job growth continues to be strong. We are maintaining our restrictive policy stance. Recent indicators show that economic growth is still expanding at a solid pace. The Federal Reserve generally expects GDP growth this year to be lower than last year's level, and the strength of the labor market is expected to continue.

The big factor in the forecast of the interest rate path is inflation, and rate cuts have been delayed due to slow inflation progress. More confidence and good inflation data are needed, but there is no clear statement on how much is needed to start cutting interest rates. Policy depends on the overall data, not just the inflation data.

We are not confident enough to ease policy at this time. We are prepared to keep interest rates unchanged if the economy remains stable and inflation persists. If employment conditions are unexpectedly weak, the Fed is ready to respond. We will continue to make decisions on a meeting-by-meeting basis and have not committed to a specific path of rate cuts. More recent inflation data suggest that inflation has slowed to some extent.

So far this year, we have not been confident enough about inflation to cut rates. Inflation stalled in the first quarter, which means we need to wait longer to cut rates. We will be watching closely for signs of weakness in the labor market, but we have not seen any signs of this yet.