"Powell Cautions Against Hasty Rate Cuts in 60 Minutes Interview"

Federal Reserve Chair Jerome Powell stated in an interview with CBS’s 60 Minutes that the central bank is cautious about cutting interest rates too soon, indicating that a rate cut in March is unlikely as officials await more economic data to confirm a sustained decline in inflation to 2%. Powell emphasized the need for prudence and time to ensure that inflation is moving down in a sustainable way, suggesting that the first rate cut could happen around the middle of the year. He also addressed geopolitical risks, the Chinese economy, federal debt, and challenges in the commercial real estate sector. Powell's comments come after the Fed's decision to hold interest rates unchanged and amid ongoing concerns about inflation and economic stability.