Fed Chairman Powell: It is not good to cut interest rates too early or too late and is cautious about interest rate cuts

Federal Reserve Chairman Powell said that the PCE inflation report is in line with our expectations; cutting interest rates too early will cause great disruption; but waiting too long may cause unnecessary damage to the economy and the labor market; more "good" inflation data is needed , similar to last year; we have made progress against inflation; we do not need to rush to cut interest rates; we can wait and become more confident before cutting interest rates; the Fed can and will be cautious about cutting interest rates.