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Federal Reserve Chairman Powell spoke at the New York Times DealBook conference on Wednesday.
This appearance comes two weeks before the central bank announces its interest rate decision and is Powell’s last public appearance before that.
The market strongly expects the Fed to cut its benchmark interest rate by another 25 percentage points from the current target range of 4.5%-4.75%. The rate-setting Federal Open Market Committee lowered the federal funds rate by a combined three-quarters of a percentage point at its September and November meetings.
In recent days, policymakers have expressed concerns about a recent rise in inflation, signaling a cautious approach to policy as they watch the data.
Read more:
Fed Governor Waller says he’s “leaning” toward a rate cut in December, but worries about inflation
The Fed’s preferred inflation gauge rose at an annual rate of 2.3%, in line with expectations
Minutes of the meeting showed that Fed officials expected to cut interest rates in the future, but only “gradually”
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