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**Federal Reserve Chair Jerome Powell: No Rush to Reduce Interest Rates**

In a recent announcement, Federal Reserve Chair Jerome Powell emphasized that the Fed is not in a hurry to lower interest rates. The strong U.S. economic growth provides policymakers with the flexibility to make careful decisions. Powell highlighted that the current economic strength, marked by low unemployment, robust consumer spending, and strong business investment, allows the Fed to take its time.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell stated confidently.

Despite some disappointing growth in October, attributed to storm damage and labor strikes, the labor market remains resilient. Powell noted that the unemployment rate, although rising, has stabilized and remains low by historical standards.

**Inflation and Future Rate Cuts**

Powell also addressed inflation, noting broad-based progress. The Fed expects inflation to continue moving towards its 2% goal, although the path may be bumpy. Recent data showed an uptick in consumer and producer prices, with 12-month rates moving away from the Fed's target. However, Powell remains optimistic about achieving the 2% inflation goal.

Last week, the Federal Open Market Committee (FOMC) lowered the central bank’s benchmark borrowing rate by a quarter percentage point, following a half-point cut in September. Powell described this move as a recalibration of monetary policy, balancing the need to control inflation with sustaining the labor market.

**Looking Ahead**

While Powell refrained from providing specific forecasts for December and 2025, he emphasized the Fed's commitment to guiding its key rate to a neutral setting that neither boosts nor inhibits growth. The Fed aims to maintain economic and labor market strength with appropriate policy adjustments.

Stay tuned for more updates.

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