Fed Chair Powell calls talk of cutting rates ‘premature’ and says more hikes could happen

Fed Chair Powell indicated that although the possibility of cutting interest rates was not currently being considered, he did not rule it out entirely. Instead, he said that additional rate hikes could occur if needed and that it was premature to be discussing rate cuts. He also noted that monetary policy would remain data dependent, suggesting that any future rate decisions would be influenced by economic indicators, such as inflation and employment.


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