Fed’s Powell Says Rate Cut Questions Are Not a Priority Right Now, According to Reuters

By Michael S. Derby

NEW YORK – Federal Reserve Chair Jerome Powell stated on Wednesday that the U.S. central bank is not considering lowering interest rates at the moment.

During a press conference following the recent Federal Open Market Committee meeting, Powell remarked, "The question of rate cuts just doesn’t come up” at this time.

He emphasized that the focus is on whether to increase rates further as officials contemplate strategies to steer inflation back to the target of 2%.