Powell signals Federal Reserve to move slowly on interest rate cuts

WASHINGTON — Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts , in sharp contrast with other Fed officials this week who have called for a more urgent approach.

In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed's goals of seeking maximum employment and stable prices. But with the unemployment rate rising, he noted, the Fed agreed to cut its key rate last week. Yet he did not signal any further cuts on the horizon.