Overview

• Federal Reserve Chair Jerome Powell underscores the need for more evidence before cutting interest rates.
• Recent data shows inflation easing, but not yet at the Fed's 2% target.
• Powell anticipates inflation might not reach the target until late 2025.
• The Fed's current interest rate remains at a 23-year high of 5.25-5.5%.
• Economic growth and employment remain strong, allowing the Fed to proceed cautiously.