Fed Chair Jerome Powell says inflation moderates as rate cuts signal caution

US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. ​​Inflation has eased but remains slightly elevated, with projections of 2.4% for this year and 2.5% for 2025. Powell noted that inflationary pressures are now roughly balanced.