📣Fed President Jerome Powell:

•February data is definitely closer to what we expected to see.

•We expect to see good data on inflation like last year.

•We do not need to rush to cut interest rates, data shows that we should wait before cutting interest rates and that we should be more confident.

•We will not act and make decisions according to political calendars. Trust is important to us.

•We say that we expect inflation to rise to 2% on a sometimes bumpy path. The data will tell us what to do.

•My expectation is that rates will not fall to the very low levels they were before the pandemic. However, rates will be lower than they are now.

•There is no possibility of a recession at the moment.

•The economic situation is strong, which shows us that we have a chance to reduce inflation.