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Powell: The Federal Reserve (FED) is currently in a favorable position of waiting and will not preemptively cut interest rates.
According to Foresight News and reported by Wall Street Insights, Federal Reserve Chairman Powell stated during the Q&A session after the FOMC meeting that, “The economy has remained resilient, the policy stance is appropriate, and the Federal Reserve is currently in a favorable position to wait and see, with very low costs for further observation.” Additionally, Powell also mentioned that he has never actively requested to meet with any president and will not do so in the future.