Federal Reserve Chair Jerome Powell spoke before the annual meeting of the National Association for Business Economics on Monday, suggesting the central bank will continue to lower interest rates but stressing the downward path for rates is not on a "preset course."
Powell said the decision to slash rates by half a percentage point earlier this month reflects the Fed's growing confidence that an appropriate recalibration of monetary policy will maintain strength in the labor market and keep inflation moving sustainably down to the 2 percent target.
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