Powell "No signal to hurry to cut interest rates"

Amid a slight rebound in U.S. price data released this week, Federal Reserve Chairman Jerome Powell said the U.S. economy is "not sending any signals that we need to hurry to cut rates."

Speaking at an event hosted by the Federal Reserve Bank of Dallas, Powell said the strong appearance of the U.S. economy gives him the ability to approach monetary policy decisions carefully.

On the outlook for future inflation, it said it was slowing steadily towards its 2% target, but it had not yet reached that point.

Earlier, U.S. consumer price growth rose 2.6% in October from a year ago, halting a slowdown and rebounding in seven months.

The producer price index also rose 0.2% month-on-month in October, raising questions about the sustainability of a slowdown in inflation.

The market believes that the Fed is likely to slow down the rate cut after next year, but interprets it as not at the level of withdrawing expectations for a rate cut in December.

However, with former U.S. President Trump's victory in the presidential election, inflation concerns have resurfaced, and the market is paying keen attention to future inflation trends.