Powell: The Federal Reserve Does Not Need to Rush to Adjust Interest Rates

According to a report by Jinse Finance, Federal Reserve Chairman Powell stated that the underlying inflation situation is favorable, and the Fed does not need to rush to adjust interest rates, as the cost of waiting is relatively low. The Fed's policy is moderately restrictive. In some cases, it is appropriate to cut rates this year, while in others, it is not. It is not possible to confidently say that the appropriate rate path is known. He also mentioned that if there is a conflict between the dual objectives, the distance from the targets and the time to bridge the gap should be considered. As developments unfold, the Fed can act quickly if the timing is right.