Federal Reserve Chair Jerome Powell said recent signs of economic health would allow the central bank to take its time in deciding how quickly to continue reducing interest rates, including by potentially slowing down the pace of cuts.

Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.

October inflation readings out this week have shown little progress toward the Fed's two percent inflation target, putting into question how deeply the Federal Reserve will cut interest rates in 2025.