Federal Reserve Chairman Jerome Powell said that claims of the Fed cutting rates are “premature” and that it could still implement additional rate hikes if needed. Powell warned that decreasing rates could have a “profoundly negative” impact on the economy. He appeared to dismiss the idea of a recession and said that while the economy was slowing, it was likely just a “slowing from very strong growth” and that signs of a full-blown recession were “not present.”
Fed Chair Powell calls talk of cutting rates ‘premature’ and says more hikes could happen
