The U.S. central bank's half-percentage-point interest rate cut last month was an acknowledgement that its policy rate was "out of sync" with where the economy stands, but shouldn't be taken as a sign that the battle with inflation is finished,

Federal Reserve Chair Jerome Powell on Monday said the U.S. economy is in "solid shape" and that more interest rate cuts can continue if the economy continues to evolve as expected.

Jerome H. Powell, chair of the Federal Reserve, said that central bankers will lower rates as much as needed, but have forecast two more quarter-point rate cuts this year.

Powell said two more rate cuts are possible if the economy continues to perform as expected, though they are likely to not be as aggressive as the cut two weeks ago.

In a speech to a group of economists, the Federal Reserve chairman offered an even-handed assessment of the economy.

The relative strength of the economy means the central bank will take a deliberate policy approach, with gradual rate cuts coming.

The Indian rupee is expected to open slightly weaker and stay under pressure on Tuesday after Federal Reserve Chair Jerome Powell pushed back against expectations of more larger-than-usual interest rate cuts,

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy

Federal Reserve Chair Jerome Powell said the central bank will lower interest rates “over time,” while again emphasizing that the overall US economy remains strong. Powell also reiterated his confidence that inflation will continue moving toward the Fed’s 2% target,