Fed Chair Powell:

The economy is not signaling that the Fed should rush to cut rates.

With a strong economy, we can make decisions carefully. The Fed is committed to completing its task of controlling inflation.

I expect inflation to continue to fall toward the 2% target, sometimes on a bumpy path.

We are moving policy toward neutrality over time; the policy path is not predetermined.

The Fed is closely monitoring the gradual decline in housing services inflation, which has not yet fully returned to normal.