Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday.

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

A strong economy is giving Federal Reserve officials room to move “carefully” as they lower interest rates, the central bank chair said.

Wall Street's main indexes closed lower on Friday after Federal Reserve Chair Jerome Powell pointed to a slower pace of interest-rate cuts and investors reacted to cabinet selections by U.S. President-elect Donald Trump.

Wall Street saw a dramatic downturn on Friday, with major indexes recording their steepest losses in two weeks. Investor sentiment soured following Federal Reserve Chair Jerome Powells cautious remarks on future rate