by James Powel
USA Today
Federal Reserve Chair Jerome Powell on Monday said there’s “growing confidence” that inflation is moving toward the central bank’s 2% goal during a speech at the National Association for Business Economics conference in Nashville.
Powell said that two further rate cuts are possible if the economy continues to perform as expected, though they are likely to not be as aggressive as the half-percent cut the Fed made two weeks ago.
“The measures we’re taking now are really due to the fact that our stance is due to be recalibrated but at a time when the economy is in solid condition,” Powell said. “We’re recalibrating policy to maintain strength in the economy, not because of weakness in the economy.