#PowellRemarks Federal Reserve Chair Jerome Powell recently emphasized that while inflation has eased somewhat, it remains above the Fed's 2% target. He noted that recent data has not increased the Fed's confidence that inflation is moving sustainably downward. As a result, Powell indicated that interest rate cuts are unlikely in the near term. He stressed the importance of maintaining restrictive monetary policy to achieve long-term price stability. Powell also acknowledged continued strength in the labor market and economic activity. His remarks signal a cautious approach, suggesting the Fed is willing to keep rates higher for longer to ensure inflation is controlled.