Federal Reserve Chairman Powell stated that policy makers might wait until after March to cut interest rates. According to the transcript provided by Columbia Broadcasting System (CBS), Powell reiterated in an interview with the company's 60 Minutes program that Federal Reserve officials hope to see more economic data to ensure sustainable achievement of a 2% inflation target. Powell said, "The danger of acting too early is that the job is not fully accomplished, and the really good data from the past six months cannot truly indicate the direction of inflation to some extent."