The Chairman of the Federal Reserve, Jerome Powell, recently stated that the central bank is nearing the level of confidence required to consider cutting interest rates. Powell's remarks come amidst growing concerns about the impact of trade tensions and global economic slowdown on the US economy.
During a speech at the Council on Foreign Relations in New York, Powell acknowledged the uncertainties surrounding the economic outlook but expressed optimism about the current state of the US economy. He noted that the labor market remains strong and inflation is close to the Fed's target of 2%.
