Powell says "we will act" as the Federal Reserve weighs a half-point interest-rate cut at its upcoming meeting due to slowing economic data. Despite a strong U.S. economy, the Federal Reserve is preparing to take action with a half-point rate cut. Chairman Jerome Powell stated that the central bank is closely monitoring economic indicators such as employment and inflation reports before making a decision at the November meeting. The Fed remains data-dependent and will assess the incoming information to determine the appropriate course of action. Powell emphasized the "good place" the U.S. economy is in, especially its strong and balanced labor market, along with progress towards meeting the Fed's 2% inflation target. The potential half-point cut would bring the total rate reduction this year to a half-point.