Powell insists the Fed will move carefully on rate cuts, with probably fewer than the market expects
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Federal Reserve Chair Jerome Powell vowed in a "60 Minutes" interview aired Sunday that the central bank will proceed carefully with interest rate cuts this year. Powell expressed confidence in the economy, promised he wouldn't be swayed by this year's presidential election, and said the pain he feared from rate hikes never really materialized. Markets have been making aggressive bets on how many cuts the Fed would make this year. Current pricing is pointing to five quarter-percentage points reductions, though Powell backed the FOMC's December "dot plot" grid of individual members' estimates that pointed to just three moves. Powell was broadly optimistic about the economy, noting that inflation, while still above the Fed's target, has moderated while the jobs market is strong. In another matter, Powell reiterated that neither he nor his colleagues would be swayed by political pressure during this presidential election year.

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https://www.cnbc.com/2024/02/04/powell-insists-the-fed-will-move-carefully-on-rate-cuts-with-probably-fewer-than-the-market-expects.html