Powell, a lasting decline in inflation is needed to cut rates. "The moment is approaching (...
), according to our forecasts", he wanted to reassure. According to Powell, the inflation rate should continue to fall in the first half of the year and the Fed should position itself again on the rate target at its March meeting. At the end of the December meeting it was at 4.6%. "The economy is strong. The job market is strong, Inflation is coming down. There's no reason why this can't continue," he noted.