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

Federal Reserve Chairman Powell stated that the PCE inflation report met our expectations; premature rate cuts would cause significant disruption; however, waiting too long could cause unnecessary damage to the economy and labor market; we need more "good" inflation data, similar to last year; we have made progress in fighting inflation; we do not need to rush to cut rates; before cutting rates, we can wait and become more confident; the Federal Reserve can and will approach rate-cutting decisions with caution.