Powell reiterates U.S. Fed not ready to start cutting interest rates

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Powell reiterates U.S. Fed not ready to start cutting interest rates

STORY: Powell reiterates U.S. Fed not ready to start cutting interest rates SHOOTING TIME: March 6, 2024 DATELINE: March 7, 2024 LENGTH: 00:01:00 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the congressional hearing before the House Financial Services Committee 2. SOUNDBITE 1 (English): JEROME POWELL, U.S. Federal Reserve Chair 3. SOUNDBITE 2 (English): JEROME POWELL, U.S. Federal Reserve Chair 4. SOUNDBITE 3 (English): JEROME POWELL, U.S. Federal Reserve Chair 5. various of the Capitol Hill STORYLINE: U.S. Federal Reserve Chair Jerome Powell on Wednesday reiterated that the central bank is not ready to start cutting interest rates, noting that he needs to see a little bit more data before taking any action. "If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year," Powell said in prepared remarks for a congressional hearing before the House Financial Services Committee. SOUNDBITE 1 (English): J

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