Powell Says Fed Doesn’t Need to Rush Interest-Rate Cuts

Federal Reserve Chair Jerome Powell repeated that the US central bank isn’t in a hurry to cut interest rates. "If we if we reduce rates too soon, there's a chance that inflation would pop back and we'd have to come back in, and that would be very disruptive," he said Friday at an event at the San Francisco Fed. Powell also commented on today's core PCE (personal consumption expenditures) gauge which cooled last month. “It’s good to see something coming in in line with expectations,” he said.