Powell: Federal Reserve is on track to cut rates, though not likely for months
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The Federal Reserve signaled that it is nearing a rate cut, but the first cut is likely months away. The Fed wants to gain greater confidence that inflation is moving sustainably to their 2% target before cutting rates. The central bank's key rate remains unchanged at about 5.4%, but the changes to its statement show that it has moved toward considering rate reductions. Most economists expect the Fed to start cutting its benchmark rate in May or June. The Fed wants to see strong growth, a strong labor market, and a continuation of the inflation slowdown before cutting rates. The U.S. economy is outperforming its counterparts overseas, with low unemployment and slowed inflation.

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https://apnews.com/article/federal-reserve-inflation-prices-interest-rates-cuts-5880d78c4664484cf366bb1aeb2bb63d