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International Business Times
International Business Times
Science
Daniel AVIS

US Rate Cuts 'Can And Will' Start This Year If Trends Continue: Fed Chair

US Federal Reserve United States Jerome Powell Loretta Mester Interest Rates Inflation Washington D.C.
Powell said if current trends continue, the Fed "can and will" start cutting interest rates this year (Credit: AFP)

The US Federal Reserve will start cutting interest rates this year so long as current economic trends continue, the head of the US central bank told lawmakers in Washington Thursday.

"What we're seeing is continued strong growth, strong labor market and continuing progress in bringing inflation down," Fed chair Jerome Powell told the US Senate Banking Committee on the second day of hearings on Capitol Hill.

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