"Powell Indicates Fed's Proximity to Cutting Interest Rates"

Federal Reserve Chair Jerome Powell indicated that interest rate cuts may be on the horizon if inflation signals cooperate, stating that the Fed is "not far" from the point of easing. Powell emphasized the importance of being confident that inflation is moving sustainably at 2% before initiating cuts, and highlighted the goal of avoiding driving the economy into recession. While financial markets have fluctuated in their expectations on Fed policy, Powell expressed satisfaction with the current policy stance.