Jerome Powell Says the ‘Time Is Coming’ , for Interest Rate Cuts.<br />In an interview with '60 Minutes' on Jan. 4, the <br />Federal Reserve chair said the central bank is still on track <br />to reduce interest rates later this year, Fox News reports. .<br />There is no easy, simple, obvious <br />path. We have to balance the risk <br />of moving too soon or too late. <br />And there are different risks. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.<br />We think the economy's in a good place. <br />We think inflation is coming down. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.<br />We just want to gain a little more <br />confidence that it's coming down in <br />a sustainable way toward our 2% goal, Jerome Powell, Federal Reserve chair, via '60 Minutes'.<br />While the "time is coming" to cut rates, "it's not likely that this <br />committee will reach that level of confidence in time for the March meeting, which is in seven weeks," Powell said.<br />At its last meeting, the Federal Open <br />Market Committee kept rates steady <br />for the fourth consecutive time.<br />Rates currently sit "at a range of <br />5.25% to 5.5%," which is the most they've been in 22 years, Fox News reports. .<br />Investors and analysts expect the Fed <br />to start its rate cuts in May or June. .<br />The labor market remains strong. <br />353,000 jobs were added in January.<br />We have a strong economy. Growth is <br />going on a solid pace, the labor market <br />is strong: 3.7% unemployment, Jerome Powell, Federal Reserve chair, via '60 Minutes'.<br />With the economy strong like that, <br />we feel can approach the question <br />of when to begin to reduce <br />interest rates carefully. , Jerome Powell, Federal Reserve chair, via '60 Minutes'.<br />We want to see more evidence that <br />inflation is moving sustainably to 2%, Jerome Powell, Federal Reserve chair, via '60 Minutes'
