【Powell: Need to see more progress on inflation before further rate cuts】Golden Finance reports that Federal Reserve officials have cut the benchmark interest rate for the third consecutive time, but have controlled their expectations for the number of rate cuts in 2025, indicating a more cautious approach to continuing to lower borrowing costs. Federal Reserve Chairman Powell told reporters at a press conference following the Fed's decision: "With today's action, we have lowered the policy rate by a full percentage point from its peak, and our policy stance is now significantly less restrictive." "Therefore, we can be more cautious when considering further adjustments to the policy rate." Nevertheless, Powell added that rates are still effectively suppressing economic activity, and the Fed "is on track to continue lowering rates." However, he stated that officials must see more progress on inflation before further cuts can be made.