Federal Reserve Chair Jerome Powell said at an event that policymakers aren't in a rush to reach a "neutral" level for interest rates and will respond to economic data as it comes in.

Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday.

Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.