02:34 PM EST, 02/11/2025 (MT Newswires) -- Fed Chairman Jerome Powell (voter) said that the Federal Open Market Committee does not need to rush to lower rates, but repeated that the FOMC will also be nimble in reacting to incoming data and conditions and could lower rates faster or hold rates steady for longer depending on what is needed, calling monetary policy "well positioned" to address any uncertainties and risks.

Powell also committed to tailoring bank regulations to reduce unnecessary burdens, saying that large banks' capital remains about right.

Recent comments of note:

(Feb. 7) Fed Governor Adriana Kugler (voter) said that the FOMC will continue to watch incoming data and the economic outlook, noting that inflation has slowed from its post-pandemic peak but that recent progress has been "slow and uneven."

(Feb. 7) Minneapolis Fed President Neel Kashkari (nonvoter) said the January data show that the labor market is still strong even after some slowing, adding that the FOMC remains committed to bringing inflation back down to 2%. Kashkari repeated that the FOMC will wait to see more information on tariffs before reacting to them.

(Feb. 6) Dallas Fed President Lorie Logan (nonvoter) said that the FOMC may need to hold rates at the current level "for quite some time" regardless of a slowdown in inflation, suggesting that a slowdown in labor market would be a main reason to ease further.

(Feb. 5) Chicago Fed President Austan Goolsbee (voter) said that supply chain issues, such as those seen during the pandemic, can cause shortages that can be inflationary. The impact of trade policy, including tariffs, need to be taken into consideration when making monetary policy decisions, according to Goolsbee.

(Feb. 5) Richmond Fed President Tom Barkin (nonvoter) said that further rate cuts are likely this year but agreed with other Fed officials that policy changes under the new administration inject uncertainty into the outlook.