NASHVILLE, Tennessee — Federal Reserve (Fed) Chairman Jerome Powell indicated on Monday that the US central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending.
"This is not a committee that feels like it is in a hurry to cut rates quickly," Powell told a National Association for Business Economics conference, even though the policy-setting Federal Open Market Committee kicked off its easing cycle with a larger-than-expected half-percentage-point reduction at its September 17 to 18 meeting.
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