Powell lists the supporting factors for not cutting interest rates

Fed chairperson Jerome Powell said that while the central bank "can see that the labour market may be cooling slowly and continuously", the cooling is not cause for concern given the current strong labour force participation rate and good wage growth. "Although uncertainty about the economic outlook has decreased, it remains elevated," he said. Given the current state of the labour market, coupled with more reasonable economic growth and gradually falling inflation, Mr. Powell said he was willing to wait for more information before deciding on his next move.