The Bank of England cut interest rates but pointed to the uncertainty facing the global economy from fresh trade barriers and Middle East conflict

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.

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. “The economy is not sending any signals that we need to be in a hurry to lower rates,

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.

Jay Powell backed a gradual approach to lowering interest rates, saying the US central bank does not need to be “in a hurry” amid a strong economy and a “bumpy” path down for inflation. In a speech delivered in Dallas on Thursday,

Federal Reserve Chair Jerome Powell said Thursday that the economy is in a good place, with inflation on a sustainable path back to the central bank’s 2% target, and that he expects inflation to continue to come down on a “sometimes bumpy” path.

"The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said.