Fed Chairman: No plans to cut rates until confidence in reducing inflation grows

Federal Reserve Chairman Powell said that recent data has not materially changed the overall situation; he does not plan to cut interest rates before confidence in lowering inflation is strengthened; the Fed has time to let the upcoming economic data guide its decisions; the Fed is gradually deciding on the monetary policy of the FOMC meeting by meeting; risks are still moving towards a more balanced state; the Fed has not yet achieved its goal of "sustained reshaping of 2% inflation".