Powell says Fed is in no rush to cut interest rates

Powell said that under the current economic environment, the Reserve Bank is in no rush to cut interest rates. He noted that while interest rates may be lower in the future than they are now, he does not expect them to return to past levels.

Powell further pointed out that the U.S. banking system is in good condition, which was also reflected in the collapse of Silicon Valley Bank last year. This shows the soundness and risk resistance of the U.S. banking system.

Banking system is sound

Powell emphasized that the U.S. banking system is in good condition, which is critical to the stability of the entire economic system. He pointed out that the soundness of banks is the cornerstone of maintaining financial stability.

Interest rate outlook

Regarding future interest rate trends, Powell predicted that interest rates will remain at a low level, which will have a positive impact on the housing market and consumers. He called on market participants to remain vigilant and pay attention to changes in interest rates at any time.

economic prospects

Powell expressed optimism about the prospects for the U.S. economy, which he believes will continue to maintain solid growth. He pointed out that although it faces some challenges, the U.S. economy has strong resilience and coping capabilities.