Powell listed the support factors for not lowering interest rates.

ChainCatcher news, The Federal Reserve (FED) Chairman Powell stated that although the FED “can see that the labor market may be slowly and steadily cooling down,” this cooling is not a cause for concern given the currently strong labor force participation rate and good wage rise. He stated: “Although the uncertainty regarding the economic outlook has decreased, it remains at a high level.” As long as the current state of the labor market remains as it is, along with reasonable economic growth and gradually falling inflation, Powell said he is willing to continue waiting for more information before deciding on the next steps. (Jinshi)