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Powell: The Federal Reserve (FED) is currently in a favorable position to wait and will not preemptively cut interest rates.
According to Foresight News, Wall Street Journal reported that The Federal Reserve (FED) Chairman Powell stated during the Q&A session after the FOMC meeting, “The economy has remained resilient, the policy stance is correct, and the FED is currently in a favorable position to observe, with no need to rush into action, as the cost of further observation is quite low.” Additionally, Powell mentioned that he has never actively requested to meet with any president, nor will he do so in the future.