"Powell Cautious on Rate Cuts Despite Market Expectations"

Federal Reserve Chairman Jerome Powell stated in an interview with "60 Minutes" that the strength of the economy allows the Fed to be cautious about cutting interest rates, emphasizing the need to carefully consider when to begin reducing rates. Powell highlighted the Fed's active consideration of rate cuts and the importance of balancing the risks of cutting too soon or too late. He also addressed concerns about inflation, the likelihood of rate cuts, and the impact of geopolitical risks on the world economy, while expressing confidence in the current state of the U.S. economy and downplaying the possibility of an imminent recession.