U.S. Federal Reserve Chairman Jerome Powell has reinforced the possibility of cutting interest rates,... but stressed the Fed will not respond immediately to short-term and temporary changes.
Speaking at the Council on Foreign Relations in New York on Tuesday,... he explained that appropriate measures will be taken to maintain the expansion,... while the Fed closely monitors current economic developments.
His remarks mirror a statement he made in early June,... when he hinted at a possible rate cut going forward.
Amid continued pressure from President Trump for a rate cut,... Powell also stressed the Fed's independence and said he will not bend to short-term political interests.
