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

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

Fed Chair Jerome Powell said it would be “premature” to consider cutting interest rates and encouraged investors to focus on the stronger economic fundamentals that will guide the Fed’s policy decisions. He also said the Fed could increase rates further if needed, although he noted the economy clearly appears to be slowing down. He also stated the Fed’s current policy stance remains appropriate and that it is working to balance the potential risks associated with the current economic environment. He added that the Fed would “continue to assess incoming data and will adjust our policy if necessary.”