In the March 20, 2024, press conference, Powell outlined the Fed's stance on interest rates and inflation, emphasizing a cautious approach:
⚫️Rapid rate cuts risk reversing gains in inflation control
⚫️Interest rates might have hit their peak, with no further increases expected
⚫️A weakening labor market could prompt intervention
⚫️The Fed is ready to sustain higher rates as long as necessary to combat inflation
⚫️Achieving closer to 2% inflation requires more certainty in economic trends